Blockchain Bonds Get a Boost From World’s Second-Biggest Bank
- China Construction Bank plans a $3 billion note program
- Debt offerings involving blockchain are rare but growing
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China Construction Bank Corp., the world’s second-largest lender, is planning a blockchain-based bond in the latest example of the nation’s growing interest in the record-keeping technology.
The notes will be represented by digital tokens as well as certificates and listed in Malaysia’s tax-free island of Labuan on the Fusang Exchange, which focuses solely on digital assets, according to a prospectus. The total program target size is $3 billion, and the proceeds will be deposited with CCB’s Labuan branch, a press release shows.