KB Issues Blockchain-Based Bond in Hong Kong KB Kookmin Bank has issued a $100 million blockchain-based dollar digital bond. It marks the f…
KB Issues Blockchain-Based Bond in Hong Kong
KB Kookmin Bank has issued a $100 million blockchain-based dollar digital bond. It marks the first case of a Korean bank applying blockchain technology to actual foreign currency funding.
Kookmin Bank said Tuesday that it issued the two-year, $100 million digital bond in the Hong Kong market through a private placement. The issuance rate was set at the Secured Overnight Financing Rate (SOFR) plus 0.4 percentage points. HSBC served as the sole bookrunner, and the issuance was carried out using HSBC's digital asset platform, Orion.