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.
Hana Bank, a South Korean financial institution, has reportedly issued a five-year, $100 million digital bond utilizing Euroclear's blockchain-based platform. According to Yonhap News Agency, the transaction marked the first of its kind in South Korea to directly employ Euroclear's blockchain infrastructure for bond issuance, registration, and settlement.
The innovation reportedly reduced the settlement time from three to five business days to the same day. The bond, which connects to Euroclear's existing global settlement network, enables investors to trade it through their existing accounts and trading systems. Euroclear launched its Digital Securities Issuance service in October 2023, utilizing the technology to issue a $106 million digital bond for the International Bank for Reconstruction and Development.
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