China Construction Bank will sell you its $ 3 billion bonds for Bitcoin

China Construction Bank will sell you its $ 3 billion bonds for Bitcoin
The 2nd largest bank in the world by market capitalization (in 2015) increases the availability of shares and starts selling on blockchain.

China Construction Bank, one of the four largest banks in China, has chosen Blockchain technology to sell its $ 3 billion worth of debt. According to the South China Morning Post, CCB was to enter into a partnership with Hong Kong-based fintech company Fusang, which has been start selling these digital certificates since tomorrow.

This report is clear evidence that Blockchain can do this at a much lower cost and is clearly more effective than traditional sales where there are a number of financial intermediaries.

The bank’s principal officer of the Labuan branch, Felix Feng Qi, commented on this issuance, that its goal is:

Narrow the divide between fintech and the wider financial markets.

The China Construction Bank bonds will be sold in the form of digital certificates of deposit and, thanks to tokenizations, retail investors can also invest in them.

China Construction Bank’s certificates of deposit will be issued through its Labuan branch with a tenor of three months. Issued at a minimum of US$100 each, the certificates will yield about 0.75 per cent at maturity, higher than the roughly 0.25 per cent interest rate per annum interest rates at banks.


Probably the biggest novelty that is part of the agreement between CCB and Fusang exchange is the ability to trade these certificates through Bitcoins. Trading will start already tomorrow and will also be possible in pairs with the U.S. dollar.

Henry Chong, chief executive at Fusang, adds:

If this transaction is a hit with investors, Fusang hopes to work with the state-owned bank on issuance in other currencies, including yuan,

As part of the first tranche of the $ 3 billion program , CCB is to make available $ 58 million digital certificates of deposit with the lead arranger of Beijing-based China Construction Bank Corp.

Read also: A subsidiary of the third largest Russian bank has obtained permission to offer cryptocurrencies

If you like our articles we would be happy if you give us a like / follow


Share Tweet Send
You've successfully subscribed to CCnews24
Great! Next, complete checkout for full access to CCnews24
Welcome back! You've successfully signed in
Success! Your account is fully activated, you now have access to all content.