Hana Bank Sets Korean Record with Same-Day Digital Bond Settlement
Hana Bank has made history in Korea's financial market by issuing a $100 million foreign-currency digital bond that settled on the same day it was priced. This milestone transaction marks the first time a Korean financial institution has directly tapped Euroclear's blockchain infrastructure for a live transaction.
The five-year note was completed through Euroclear's Digital Financial Market Infrastructure (D-FMI), with allocation and payment finalized on the issuance date, compressing the conventional settlement cycle of three to five business days into a T+0 process.
Standard Chartered acted as sole lead manager for the deal, responsible for structuring, issuance, and sale of the bond. Hana Bank drew on documentation from its existing global medium-term note program for the issuance.
The 'digital' designation refers solely to how the instrument is issued, recorded, and settled on distributed ledger rails, with the transaction carrying the same credit profile and regulatory treatment as a conventional bank-issued bond.