Hana Bank launches $100 million digital bond with same-day blockchain settlement
Hana Bank issued a $100 million digital bond through Euroclear’s blockchain platform, achieving same-day (T+0) settlement - a first for Korea’s foreign-currency bond market.
On Friday, Hana Bank placed a five-year, $100 million digital bond using Euroclear’s blockchain-based Digital Financial Market Infrastructure (D-FMI). The D-FMI handles issuance, registration and settlement on a distributed ledger, allowing the bond to settle on the same day it was issued - a T+0 settlement that normally takes three to five business days in the foreign-currency market. Hana Bank leveraged documentation from its existing global medium-term note programme and linked the digital issuance to Euroclear’s conventional settlement network, enabling institutional investors to buy and trade the bond through their current Euroclear accounts without new infrastructure.
Standard Chartered served as the sole lead manager, overseeing structuring, issuance and sale. A Hana Bank official highlighted the significance of bringing blockchain technology into capital markets and pledged to pursue further innovative funding solutions.
Why it matters
The same-day blockchain settlement could speed funding and cut costs for issuers and investors in global bond markets.
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