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Major Chinese Bank Selling Bonds Worth $3 Billion for Bitcoin

News Feed - 2020-11-11 06:11:43

Major Chinese Bank Selling Bonds Worth $3 Billion for Bitcoin


China Construction Bank, one of the “big four” banks in China, is selling $3 billion in bonds that can be paid for with bitcoin. The bonds will be listed on a regulated Malaysian digital asset exchange.


Beijing-based China Construction Bank (CCB) is selling $3 billion in bonds for bitcoin and U.S. 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 these China Construction Bank’s digital certificates using bitcoin on Fusang Exchange, a digital exchange licensed by the financial regulator in Labuan, Malaysia.




“The security would roll over every three months and pay annualized interest of Libor plus 50 basis points, or approximately 0.75%,” the publication conveyed, adding that trading will begin Friday.


What do you think about China Construction Bank selling bonds for bitcoin? Let us know in the comments section below. Televend’s Complex System of Telegram Drug Bots Swell as German Police Seize 9 Telegram Drug Channels NEWS | 30 mins ago Hackers Have Stolen $100 Million From Defi Projects This Year NEWS | 5 hours ago Tags in this story china construction bank, china construction bank bitcoin, chinese bank bitcoin, chinese bank bonds, chinese bank malaysia


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