According to Korean media Sedaily, KB Kookmin Bank announced the issuance of a $100 million blockchain digital bond in the Hong Kong market. It is understood that this offering is also the first time that the Korean banking industry has applied blockchain technology to actual foreign-currency financing business. The two-year U.S. dollar digital bond is issued via private placement, with an issuance interest rate of SOFR (Secured Overnight Financing Rate) +0.4 percentage points. HSBC served as the sole bookrunner, and the issuance process was completed through HSBC’s digital asset platform Orion. KB Kookmin Bank said that this issuance will shorten the settlement cycle from the traditional 5 business days to 3 business days, helping to simplify the process and reduce settlement default risk.

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InstantNoodle-LevelResearcher
· 20m ago
KB National Bank's move is steady, Hong Kong + private equity + SOFR, compliance framework fully maximized
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PixelPnl
· 7h ago
The first on-chain financing for foreign currency in Korea’s banking industry, East Asia’s financial digitization is accelerating.
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BridgeHopBella
· 7h ago
Reducing from 5 days to 3 days may not seem like a lot, but the decrease in default risk plus savings on operational costs make the long-term compound interest quite significant.
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DaoScraps
· 7h ago
Traditional financial giants are finally taking blockchain seriously; reducing the settlement cycle to 3 days is indeed impressive.
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FoldedPrivateKey
· 7h ago
Private placement + USD denomination, this structural design is very clever, testing the waters without being aggressive.
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