Hana Bank Completes $100 Million Digital Bond on Euroclear Blockchain
Hana Bank, South Korea's second-largest bank, has made history by issuing a $100 million digital bond on Euroclear's blockchain infrastructure. The transaction was notable not only for its size but also for its speed, with bond and cash transfers completed on the same day.
The issuance was conducted via Euroclear's Digital Financial Market Infrastructure (D-FMI), which allows for the issuance, registration, and settlement of securities on a distributed ledger. This technology has shortened the waiting period for bond transactions from three to five business days in traditional processes to just one day.
Standard Chartered served as the sole lead manager for the offering, using documentation from Hana Bank's existing global medium-term note program. A Hana Bank official stated that same-day settlement is not just about diversifying financing channels but a step toward utilizing blockchain technology in capital markets.