Q-Bond, the country’s first bond issuance system built on blockchain. Developed on the Quarix blockchain infrastructure, the project demonstrates how regulated digital assets can streamline capital market operations while meeting financial-grade standards.
Q-Bond’s Impact
Traditional bond issuance and settlement involve multiple intermediaries, paper-based processes, and delays that raise costs and risk errors. For both issuers and investors, this means inefficiency and limited transparency. Q-Bond was designed to solve these pain points — making bond lifecycle management faster, safer, and more transparent.
How Quarix Powers Q-Bond
End-to-End Data Recording: Quarix records bond data on-chain from issuance through maturity, creating a tamper-proof ledger that eliminates duplication and reduces reconciliation.
Automated Calculations & Payments: Smart contracts on Quarix automate interest and principal repayment calculations. Payments are executed through Q-Money, an e-money solution operating under the Bank of Thailand’s regulatory sandbox.
Integrated Settlement: By linking bond information with Q-Money, Quarix enables atomic swaps between data and funds — ensuring that repayment is completed securely and simultaneously.
Security & Transparency: Every transaction and data entry is permanently stored on-chain, providing a trusted source of truth for issuers, regulators, and investors alike.
The First Deployment: Q-Bond
The pilot issuance was led by PTT, with a total bond value of THB 500 million, a one-year maturity, and a fixed coupon rate of 2.38%.
• KBank acted as the lead underwriter, registrar, and investor.
• Orbix Technology delivered the blockchain infrastructure through Quarix.
• PTT became the first issuer to leverage Quarix for a live bond transaction in Thailand.
This marks the first time Quarix Blockchain has been used for bond issuance and settlement in Thailand, representing a breakthrough in capital market innovation
REAL Results
Tamper-Proof Bond Data: Immutable recording from issuance to maturity.
Faster & Leaner Operations: Reduced costs and fewer steps compared to traditional systems.
Regulatory Alignment: Operates under the Bank of Thailand’s regulatory sandbox, ensuring compliance while advancing innovation.
Market Confidence: Backed by leading institutions (PTT, KBank), demonstrating enterprise-grade reliability of Quarix.
