China Construction Bank officially confirmed that it intends to introduce a new service - the sale of bonds on blockchainie. Payment can be made in dollars or bitcoins.
China Construction Bank's digital bonds worth $ 3 billion
Introduction plans by China Construction Bank, which is one of the leading Chinese commercial banks, the sale of bonds on the blockchain has already been officially confirmed. The total value of these assets has been estimated at $ 3 billion. This is the first project of this type to be implemented by a Chinese bank. Never in its history has it been selling digital assets. Therefore, partnership with the company was a support in this area fusang.
As announced, the bonds will be sold in the form of certificates of deposit. Normally, their value reaches tens of thousands of USD, therefore they are available only to institutional investors. Meanwhile, thanks to the solution that China Construction Bank will implement, the bonds will remain stokenizowane on the blockchain, which will make them available also to retail investors. They will be able to purchase assets as low as $ 100. The deposit period is to be approximately three months and the guaranteed profit will be 0,75%.
Cooperation between China Construction Bank and Fusang
It is also worth noting that China Construction Bank's bonds will be tradable on the Fusang exchange. Transactions will be made in bitcoins or dollars. The first round, involving 3 billion bonds, was estimated at $ 58 million. However, the bonds will not be subject to deposit insurance in China, as the dollar is the correct currency. It is predicted that they will be sold anyway. Representatives of the Fusang exchange hope that other currencies, including the yuan, will see a similar initiative. The management of China Construction Bank does not hide the deep hope that the initiative will bring the fintech sector and traditional financial markets closer together. At the same time, China, famous for its huge aversion to cryptocurrency, surprised their supporters by allowing their largest banking institution to introduce a related service.