Hana Bank Taps Euroclear Blockchain for $100M Bond
The deal cut settlement from three to five business days to the same day and used Standard Chartered as sole lead manager.
- Hana Bank issued a $100 million five-year foreign-currency digital bond through Euroclear's D-FMI platform on September 18, completing allocation and settlement the same day, marking South Korea's first T+0 settlement in the foreign-currency bond market.
- Building momentum since August, Hana Bank became the first South Korean commercial bank to link U.S. dollar settlement through an international central securities depository, positioning it to leverage Euroclear's blockchain infrastructure for this digital bond issuance.
- Standard Chartered served as sole lead manager, compressing settlement from the traditional three to five business days to same-day completion using distributed ledger technology, while investors retained access through existing Euroclear accounts.
- The digital security integrates with Euroclear's conventional settlement infrastructure for secondary-market trading, allowing investors to use existing trading venues and liquidity infrastructure without separate systems.
- Hana's transaction follows KB Kookmin Bank's $100 million digital bond in June using HSBC's Orion platform, while Euroclear has facilitated €800 million in digital issuances across multiple markets as Asian banks test digital debt solutions.
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(Seoul = Yonhap News) Reporter Lee Do-heun = Hana Bank is issuing $100 million worth of 5-year foreign currency digital bonds using Euroclear's blockchain-based platform D-FMI ...
Hana Bank Issues $100 Million Digital Bond Using Euroclear Blockchain Platform
How Did Hana Bank Cut Bond Settlement to the Same Day? South Korea's Hana Bank has issued a five-year, $100 million foreign-currency digital bond through Euroclear's blockchain infrastructure, reducing a process that traditionally takes three to five business days to same-day settlement. The transaction used Euroclear's Digital Financial Market Infrastructure, or D-FMI, to process the bond's issuance, registration and settlement on a distributed…
Hana Bank would have issued US$ 100 million in Euroclear blockchain, with settlement on the same day, according to Cointelograph
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