On November 11, the announcement of the issuance of digital token USD bonds with CCB acting as a consultant was announced. After 5 days, the issuance of ERC20 bonds worth $3 billion was announced to be postponed.
Time returned 5 days ago. On November 11, media sources pointed out that China Construction Bank plans to cooperate with Hong Kong financial technology company Fusang to sell a digital bond through the Labuan branch of China Construction Bank Malaysia to raise no more than US$3 billion. According to media reports, this is the first domestic bank to use digital tokens to issue USD bonds.
Specifically, the digital bond issued this time will be issued on Ethereum in the form of ERC20 tokens with a face value of $100, and the tokens will be listed on the Fusang Exchange.
With the help of blockchain technology, all individual and institutional investors except American and Chinese tax residents and Iranian and North Korean individuals and entities can buy and sell the bond with U.S. dollars and Bitcoin. Because the smallest trading unit is an ERC20 token, investors can become the owner of this bond with only $100 and get a return of 50 basis points (about 0.75%) higher than the Libor. The Golden Financial reporter organized detailed information on specific plans such as issuers, promoters, lead underwriters, issuance scale, planned deadlines, issuance arrangements, etc.- CCB’s issuance of US$3 billion ERC20 bonds, we took a look at the detailed information
However, CCB stated that it is not a bond issuer, but a lead arranger and issuance advisor, and it also acts as a clearing and settlement agent bank for US dollar funds. China Construction Bank does not accept cryptocurrency bank transactions including Bitcoin.
After only 5 days, the Hong Kong financial technology company Fusang Securities Trading Platform (FusangExchange) announced that at the request of the issuer, the digital bond “LongbondSRNotesUSDFeb2021″ (codename ” LBFEB21″) will postpone the listing.
Previous news shows that the release date of LBFEB21 is November 13, 2020, and the expiration date is February 26, 2021. However, according to the requirements of the issuer Longbond Ltd., the listing of Longbond SR Notes USD in February 2021 will be delayed until further notice.
