KB Kookmin Bank Issues $100 Million Blockchain Digital Bond in First for Korean Banks
Summary
- KB Kookmin Bank said it issued a $100 million blockchain-based digital bond, the first such offering by a South Korean bank.
- The digital bond was issued as a two-year $100 million note with HSBC acting as sole arranger.
- KB Kookmin Bank said the deal would help it build expertise in blockchain-based fundraising and expand its global investor base.
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KB Kookmin Bank has issued a $100 million blockchain-based digital bond, the first such dollar-denominated offering by a South Korean bank.
The bank announced on June 10 that the bond was issued using blockchain technology across the entire process, including issuance, registration, trading and settlement. Digital bonds can shorten settlement times and improve operational efficiency.
HSBC acted as sole arranger for the $100 million, two-year bond. The deal was issued through HSBC Orion, the bank’s digital-asset platform, and linked to the clearing and settlement system operated by the Central Moneymarkets Unit under the Hong Kong Monetary Authority.
KB Kookmin Bank said the issuance would help it build expertise in blockchain-based fundraising and expand its global investor base.
JOON HYOUNG LEE
gilson@bloomingbit.ioCrypto Journalist based in Seoul
