KB Kookmin Bank issues first blockchain-based digital bond in South Korea

KB Kookmin Bank has become the first bank in South Korea to issue a blockchain-based U.S. dollar digital bond, Yonhap News reported on June 10. Digital bonds utilize blockchain technology to manage their entire lifecycle, including issuance, registration, trading, and settlement, which can shorten settlement times and enhance operational efficiency. The bond, with a two-year maturity, was issued for $100 million with HSBC acting as the sole lead manager. It was issued via HSBC's digital asset platform, HSBC Orion, and is linked to the clearing and settlement system operated by the Central Moneymarkets Unit (CMU) under the Hong Kong Monetary Authority (HKMA).