[ad_1]
China Construction Bank’s $ 3 billion blockchain bond was reportedly withdrawn after an initial delay.
Fusang Exchange, a Malaysian cryptocurrency exchange that was to be responsible for the bond’s listing, said it was withdrawn at the request of the issuer.
According to Reuters on November 23, CCB’s Labuan branch informed Fusang Exchange on November 20 that the bond issue would not continue.
The blockchain-based bond was to be issued by Longbond Ltd, a special platform designed exclusively to issue digital bonds and deposit the proceeds with CCB Labuan.
On November 13, the day the bond was to be traded, Fusang Exchange officially announced that the $ 3 billion blockchain bond was delayed “at the request of the issuer.” According to the latest report, Fusang Exchange received a letter from CCB Labuan on behalf of Longbond postponing the listing.
As previously reported, CCB, one of the largest banks in the world, plans to raise up to $ 3 billion on the bond, with an initial tranche of $ 58 million at launch.
Initial reports suggested that as the bond would be tokenized and traded on a cryptocurrency exchange, interested buyers could trade Bitcoin (BTC) and other cryptocurrencies for the bond. This claim was later challenged by CCB.
