Bonds on the blockchain of the Chinese bank CCB on $3 billion will be traded for bitcoins

The second largest bank in the world by capitalization, China Construction Bank (CCB), issued bonds on the blockchain on $3 billion. Securities will bargain on the Hong Kong Exchange Fusang for dollars and bitcoins.

The release of tokenized bonds will be engaged in the Malaysian State Bank Labuan, But they can trade them on the Fusang platform. Interesting, that it will be possible to buy and sell bonds not only for US dollars, but also for bitcoins. Bidding should begin this Friday, 13 November.

Thanks to the release of bonds on the CCB blockchain, he hopes to reduce costs, which are usually present in this process. Besides, It will be possible to launch such debt securities with a smaller face value, To attract retail investors. Now Chinese bonds are usually produced with a face value of tens of thousands of yuan (of $ 4,000), what makes them too expensive for most retail investors.

If the pilot project is successful, then CCB hopes to produce tokenized bonds with a face value $100. At the same time, holders of debt receipts will receive income 0.75% annual.

The Fusang platform in the future plans to release securities on the blockchain, nominated and other currencies, Including Chinese yuan.

At the end of last year, Bank of China released
blockchain bonds on $2.8 billion for small businesses.