Hana Bank Issues $100 Million Euroclear Blockchain Digital Bond With First T+0 Settlement: 14 outlets compared
Hana Bank has successfully issued a $100 million five-year foreign-currency digital bond, marking South Korea's first instance of T+0 same-day settlement for such an instrument. The transaction was executed on Euroclear's D-FMI platform, a distributed ledger technology (DLT) infrastructure designed to integrate with existing global capital market systems. By utilizing this blockchain-based framework, the bank reduced the traditional settlement cycle from three to five business days down to a single day. Standard Chartered acted as the sole lead manager, overseeing the structuring and distribution process. The bond was issued under the bank's existing Global Medium-Term Note (GMTN) program, ensuring compatibility with current institutional trading systems. This milestone demonstrates how traditional financial institutions can leverage established global settlement networks to enhance operational efficiency and liquidity. The initiative serves as a practical proof-of-concept for South Korean banks ahead of the Financial Services Commission's planned 2027 tokenization framework launch.
