Catastrophe Bonds to Launch on Blockchain by 2027

Law firm Harneys and tokenization platform droppRWA plan to issue the first catastrophe bond with ownership recorded directly on the blockchain, targeting early 2027. This structure aims to make the blockchain the legally enforceable record of ownership, streamlining investor registration, qualification, and payment processes to reduce reconciliation time from days to seconds, pending regulatory approval. The catastrophe bond market, currently valued at $65.6 billion, allows insurers and governments to transfer natural disaster risk to capital market invest