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eToro senior analyst Mati Greenspan said the announcement of a new blockchain venture between the World Bank and the Commonwealth Bank of Australia (CBA) bodes well for the integration of cryptocurrencies in the traditional financial world.

The World Bank teamed up with the CBA to launch the world’s first blockchain bond, with plans to issue it on Ethereum.

Mr Greenspan said: “This is an exciting step towards the integration of blockchain technology into traditional finance.

“It's nice to see such a reputable institution such as the World Bank using a private Ethereum network to monitor their new bond. However, we're really just scratching the surface with this one.”