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KB Kookmin Bank Issues $100 Million Blockchain-Based Dollar Bond

Using HSBC’s Orion linked to the HKMA’s Central Moneymarkets Unit, the deal cut settlement times to three business days and signals banks applying blockchain to live capital markets.

South Korea
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Overview

  • KB Kookmin Bank said it privately placed a two-year, $100 million U.S. dollar digital bond in Hong Kong on June 10 using distributed ledger technology.
  • The bond was executed on HSBC’s Orion digital-asset platform with clearing connected to the Hong Kong Monetary Authority’s Central Moneymarkets Unit.
  • Issuance and settlement used blockchain across the bond’s lifecycle and settlement reportedly completed in three business days instead of the usual five.
  • Local reports said HSBC acted as sole bookrunner and the deal was priced at SOFR plus 0.40 percentage points in a private placement.
  • KB’s bond adds to wider group projects such as tokenized deposits and a proposed hybrid stablecoin card, but coverage notes unresolved cross-border legal rules and technical risks to monitor next.