Bank of China issues $2.8 billion in blockchain-based bonds

The Bank of China has issued 20 billion Renminbi ($2.8 billion) in blockchain-based bonds for small and micro-sized companies possessing their own blockchain platforms.

Chinese Bank follows Santander in issuing blockchain-based bonds

This Friday, one of the four major commercial banks in China, the Bank of China, announced that it is issuing billion in blockchain-based bonds to support small and micro-sized companies.

The bank announced that it had completed the process of pricing and issuing bonds this week. The bank revealed that the two-year bond would have a 3.25% coupon rate as the bank hopes to support these enterprises by raising funds for them. The statement noted that the bank had used its own blockchain-based bonds issuance system for the process. The bank highlighted that this was the first time for China that blockchain was being used to issue bonds.

The bank utilized its system to issue documents for ownership verification as well as proof of transactions. Read More...