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BTC Hana Bank uses Euroclear blockchain platform to issue US$100 million in five-year digital bonds
South Korea's Hana Bank recently successfully issued US$100 million in five-year digital bonds through Euroclear's blockchain-based digital financial market infrastructure platform. This is the first time that a Korean financial institution has directly issued digital bonds on Euroclear's blockchain system.
Distributed ledger processing bond process
According to Yonhap News Agency, the bank completed the issuance, registration and settlement of bonds on the distributed ledger network. The use of blockchain technology in these steps reportedly shortens the entire bond process, which typically takes three to five working days, to one day.
Bank officials said the use of blockchain technology has improved the efficiency and transparency of bond allocation and payment settlement. The new process also streamlines investors 'access by connecting to Euroclear's existing global clearing network, allowing them to trade the bond using their existing accounts and trading systems.
Euroclear is an international financial services company specializing in the settlement of securities transactions. It has designed the digital financial market infrastructure to modernize and digitize the securities issuance and settlement process.
Explanation of terms: Euroclear is a Brussels-based securities post-exchange services provider that operates one of the world's largest settlement systems and has recently expanded into digital securities infrastructure.
It is reported that the issuance, registration and settlement of bonds are completed on the distributed ledger network, and the settlement cycle is shortened from a few days to the same day.
Widespread adoption of global platforms
Euroclear's digital financial market infrastructure platform connects digital bond issuance directly to its global settlement network. This allows international investors to achieve seamless trading and account management without additional integration steps.
Hanil Bank's adoption of this platform is in line with a broader trend of financial institutions seeking to increase efficiency through blockchain technology. Leveraging Euroclear's infrastructure, investors can more easily access Korean digital bonds through a familiar platform.
Euroclear launched its digital securities issuance service in October 2023. In its first transaction, it settled a € 100 million digital bond issued by the International Bank for Reconstruction and Development, the World Bank's lender. The three-year bond is designed to raise funds for sustainable development and is listed on the Luxembourg Stock Exchange.
Euroclear's platform enables investors to settle digital bond transactions through existing accounts and systems connected to traditional global settlement networks.
Market Impact
Hanil Bank's direct use of Euroclear's blockchain infrastructure marks an important step in the digitization of South Korea's bond market. This also demonstrates the growing acceptance of blockchain solutions in mainstream global finance.
Euroclear's recent expansion in Asia, including its investment in Marketnode, highlights the region's growing demand for digital securities infrastructure. Market participants continue to monitor Asian financial institutions 'further adoption of blockchain in bond issuance.
