Bank of China Issues $2.8B in Blockchain-Based Bonds

December 8th, 2019 – One of the four major commercial banks in China, Bank of China, announced in a statement on Friday that it has released 20 billion Yuan in blockchain-based bonds for small businesses that own blockchain platforms.

The Beijing-based bank also mentioned in the statement that it concluded pricing and bond issuance for the first period this week. The two-year bond will come with a 3.25% coupon rate and is aimed at raising funds to support small and micro-sized businesses.

The state-owned bank used its own blockchain network to give out digital certificates of ownership, create underwriter groups and record proof of transactions.

China seeks to prop up its entrepreneurs by providing efficient access to capital through bond issuance. The bank said that it had lent 404 billion Yuan to more than 410,000 small and micro-sized enterprises by the month of September.


Written by Chainbulletin

Related Post


3 ways digital payments can support...

January 17th, 2020 – Five years ago, every member of the UN agreed to work in partnership with the private sector to achieve the 2030 ...


E-commerce is globalization’s shot at equality

January 19th, 2020 – Small businesses have global potential thanks to e-commerce. SMEs active on the internet export more than traditi...


African SMEs Chest Thumping on $33...

January 9th, 2020 – African Guarantee Fund (AGF) has received an additional USD 33M financing from German lender KfW Development Bank ...