Hana Bank Issues $100M Digital Bond on Euroclear Blockchain

South Korea's Hana Bank has taken a significant step in digital finance by issuing a $100 million five-year foreign-currency bond using Euroclear's blockchain-based platform.

The bond was issued through Euroclear's Digital Financial Market Infrastructure, which allowed for the direct use of its distributed ledger network for processing bond allocation and payment settlement.

According to Yonhap News Agency, the issuance, registration, and settlement of the bond were processed on a distributed ledger network, shortening the process from three to five business days to the same day.

The bond is also connected to Euroclear's existing global settlement network, enabling investors to trade it through their existing accounts and trading systems.