South Korea’s KB Kookmin Bank Issues $100 Million Blockchain-Based Digital Bond in Hong Kong

TechFlow News, June 11: According to Seoul Economic Daily, KB Kookmin Bank announced the issuance of a $100 million blockchain-based digital bond in the Hong Kong market. This marks the first time a Korean bank has applied blockchain technology to actual foreign-currency financing operations. The settlement cycle for this issuance has been shortened from the traditional five business days to three business days, helping streamline processes and reduce settlement default risk. Reportedly, this two-year USD-denominated digital bond was issued via private placement, with HSBC serving as the sole bookrunner. The issuance process was completed through HSBC’s digital asset platform, Orion.