Hana Bank reportedly issues $100M digital bond via Euroclear blockchain

South Korea's Hana Bank reportedly issued a five-year, $100 million digital bond using Euroclear's Digital Financial Market Infrastructure. Yonhap News Agency reported that the issuance, registration and settlement were processed on a distributed ledger network. The report described the transaction as South Korea's first digital bond issuance to directly use Euroclear's blockchain infrastructure. Using the technology for bond allocation and payment settlement reportedly shortened the process from three to five business days to the same day. The bond is connected to Euroclear's existing global settlement network, allowing investors to trade it through their existing accounts and trading systems, according to Yonhap. Cointelegraph was unable to reach Hana Bank for comment, while Euroclear had not responded to a request for comment before publication. Euroclear launched its Digital Securities Issuance service in October 2023 by settling a 100 million euro digital bond, valued at $106 million at the time, issued by the World Bank's lending arm, the International Bank for Reconstruction and Development. That earlier bond had a three-year term, raised funds for sustainable development and was listed on the Luxembourg Stock Exchange.