China Construction Bank canceled its debut blockchain-based bond
November 23, 2020
The bond of $3 billion was supposed to start trading on Fusang Exchange, a bourse for digital securities. However, the issuer withdrew the deal without reasons.
Large and small investors could purchase the bond for $100 by paying the exchange cash or BTC. According to the primary plan, the raised funds would be deposited at the Labuan branch of the bank. Bondholders would get the annualized interest of Libor plus 50 bps, or about 0.75%, significantly above most short-term rates on bank deposits.
Company — China Construction Bank
Full nameChina Construction Bank Corporation