China Construction Bank will sell you its $ 3 billion bonds for Bitcoin

China Construction Bank, one of the four largest banks in China, has chosen Blockchain technology to sell its $ 3 billion worth of debt. According to the South China Morning Post, CCB was to enter into a partnership with Hong Kong-based fintech company Fusang, which has been start selling these digital certificates since tomorrow.

This report is clear evidence that Blockchain can do this at a much lower cost and is clearly more effective than traditional sales where there are a number of financial intermediaries.

The bank’s principal officer of the Labuan branch, Felix Feng Qi, commented on this issuance, that its goal is:

The China Construction Bank bonds will be sold in the form of digital certificates of deposit and, thanks to tokenizations, retail investors can also invest in them.

SCMN

Probably the biggest novelty that is part of the agreement between CCB and Fusang exchange is the ability to trade these certificates through Bitcoins. Trading will start already tomorrow and will also be possible in pairs with the U.S. dollar.

As part of the first tranche of the $ 3 billion program , CCB is to make available $ 58 million digital certificates of deposit with the lead arranger of Beijing-based China Construction Bank Corp.

The full article: https://ccnews24.net/china-construction-bank-will-sell-you-its-3-billion-bonds-for-bitcoin/

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Matej Korený

We are building DeFi 2.0 / Internet 2.0 / Web 4.0 | Digital Economy | Crypto | Blockchain | FinTech | CMO at CoDeTech, Core Blockchain