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China Construction Bank, one of the “big four banks” in China, sells $ 3 billion in bonds that can be paid for with bitcoin. The bonds will be listed on a regulated Malaysian digital stock exchange.
The Beijing-based China Construction Bank (CCB) is selling $ 3 billion in bonds for bitcoin and US dollars through its unit in Malaysia, the South China Morning Post reported Wednesday. This is the first digital security issued by a Chinese bank on a blockchain, the publication added, noting:
The deal also allows investors to trade the digital certificates of these China Construction Banks using bitcoin on the Fusang Exchange, a digital exchange authorized by the financial regulator of Labuan, Malaysia.
“The stock would renew every three months and pay annualized Libor interest plus 50 basis points, or around 0.75%,” the publication said, adding that trading will begin on Friday.
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