Hana Bank taps Euroclear blockchain for $100M bond issuance: Report
The five-year digital bond reportedly shortened settlement from three to five business days to the same day using Euroclear’s blockchain infrastructure.
South Korea’s Hana Bank has reportedly issued a five-year, $100 million digital bond using Euroclear’s blockchain-based platform.
On Monday, Yonhap News Agency reported that the bank used Euroclear’s Digital Financial Market Infrastructure to issue the foreign-currency bond. The report described the transaction as the first digital bond issuance in South Korea to directly use Euroclear’s blockchain infrastructure.
According to Yonhap, the bond’s issuance, registration and settlement were processed on a distributed ledger network. Using the technology for bond allocation and payment settlement reportedly shortened the process from three to five business days to the same day.
