Mirae Asset Securities issues blockchain-based digital bonds…First multi-currency funding by a private company

Mirae Asset Securities has issued blockchain-based digital bonds, becoming the first private company in South Korea to raise funds in multiple currencies. By processing the entire bond issuance workflow in a blockchain environment, the firm has integrated digital financial infrastructure into the traditional capital market.

Through pricing on the 28th, Mirae Asset Securities finalized the private placement issuance of digital bonds totaling HK$325 million and US$30 million. Both tranches have a one-year tenor, with coupon rates of about 3.50% for the Hong Kong dollar bonds and 4.25% for the US dollar bonds.

This marks the first time digital bonds have been issued in the Korea-related bond market. In particular, it is reported to be the world’s first case of a private company—excluding the Hong Kong government—issuing digital bonds in multiple currencies. Digital bonds are structured so that the entire process of issuance, distribution, and management is conducted on-chain using distributed ledger technology (DLT) and blockchain.

They are characterized by the ability to simplify intermediation procedures and shorten settlement times through blockchain-based ledger records. They are also drawing attention as next-generation bond infrastructure, as transparency and efficiency can be secured simultaneously in post-issuance management.

In Asia, Hong Kong is widely viewed as the most proactive jurisdiction in developing the digital bond market. The Hong Kong government has previously led the market by issuing multi-currency digital bonds in Hong Kong dollars, US dollars, euros, and renminbi. Mirae Asset Securities’ issuance signifies that the private sector has now joined this trend in earnest.

Through this deal, Mirae Asset Securities has once again demonstrated its potential to expand into the digital finance domain. The company has declared this year the inaugural year of “Mirae Asset 3.0,” spanning both traditional and digital assets, and is accelerating digital financial innovation.