Hua Xia state-linked Chinese bank tokenizes $600M in yuan bonds

China Issues $600M in On-Chain Digital Yuan Bonds, Signaling Blockchain Shift

TL;DR China’s Huaxia Bank launched commercial bonds worth over $637 million on a blockchain network. The bonds could only be purchased using the digital yuan (e-CNY), the country’s CBDC. High demand forced the bank to issue the entirety of the bonds, which carry a yield of 1.84%. Huaxia Bank has just set a precedent in the trend of financial technology and digital currency. The Chinese entity completed one of the country’s first CBDC blockchain…

Chinese Bank Tokenizes $600M in Yuan-Backed Government Bonds

Hua Xia Bank, an openly traded banks connected to China’s federal government, provided 4.5 billion yuan ($ 600 million) in tokenized bonds on Wednesday, intending to minimize cleaning friction by eliminating intermediaries from the auction procedure. According to Sina, the onchain federal government bonds were provided by Hua Xia Financial Leasing, a subsidiary of Hua Xia Bank, a state-controlled industrial bank in China. The bonds used a three-…

Hua Xia state-linked Chinese bank tokenizes $600M in yuan bonds

Hua Xia Bank, a commercial bank operating in China, has successfully issued $600 million in tokenized yuan-backed bonds to onchain holders.

Huaxia Bank issues 637M blockchain bonds settled in digital yuan

China's integration of blockchain and digital yuan in finance could streamline processes, enhance transparency, and influence global digital currency adoption. The post Huaxia Bank issues 637M blockchain bonds settled in digital yuan appeared first on Crypto Briefing.