Chinese state-owned bank issues $600m onchain digital yuan bonds

Group 1 - A state-owned bank in China, Huaxia Bank, has issued one of the country's first commercial bonds on a blockchain, valued at over $637 million, using China's central bank digital currency (CBDC) [1][6] - The issuance process was recorded on the blockchain in real-time, ensuring immutability of transactions and allowing investors to access relevant information anytime [2] - The People's Bank of China (PBoC) has reported that cumulative digital yuan transactions reached $2 trillion, with 225 million personal digital wallets opened [3] Group 2 - The bonds issued by Huaxia Bank have a maturity of three years and a coupon rate of 1.84%, marking a significant innovation in the bank's book-building operations [5] - Huaxia Bank aimed to raise a minimum of $425 million but ended up issuing all bonds due to high demand, with the potential to issue an additional $212 million if oversubscribed [6] - Most Chinese companies utilize private blockchains for such operations, influenced by regulatory crackdowns on crypto trading and Bitcoin mining [4]