Hana Bank has raised $100 million through a five-year foreign-currency digital bond, completing the entire transaction on the day of issue rather than waiting the usual three to five business days.
The deal, settled on a T+0 basis, was conducted through Euroclear’s blockchain-based Digital Financial Market Infrastructure (D-FMI). It was the first time a South Korean financial institution had directly used Euroclear’s infrastructure to issue a digital bond, and the first same-day settlement in South Korea’s foreign-currency bond market.
The bond was issued on Friday, with the securities and payment exchanged on 18 September, the issue date. Investors were able to hold and trade the note through their existing Euroclear accounts, meaning the blockchain technology operated behind the established market infrastructure rather than requiring a new token, wallet or trading platform.
Hana Bank, which is 55 years old, used its existing Global Medium-Term Note documentation, amended to support a digitally native bond. Standard Chartered acted as sole lead manager and bookrunner, while Citi served as DNN and fiscal agent.
Euroclear’s distributed ledger was used for issuance, registration, allocation and cash settlement. The arrangement enabled Hana Bank to receive its funding immediately, while investors continued to use the systems with which they were already familiar.
“The $100 million digital bond issuance and implementation of T+0 settlement represent a significant step beyond simply diversifying our funding channels, as they bring blockchain technology into the capital market,” a Hana Bank official told The Korea Herald reporter Choi Ji-won.
First Korean bank to use Euroclear D-FMI directly
Hana Bank’s transaction was the first direct digital-bond issuance on Euroclear’s D-FMI by a Korean institution. It was also the first T+0 settlement for a foreign-currency bond in South Korea.
The deal was not, however, the first digital bond issued by a Korean company or institution. Earlier in 2026, Mirae Asset Securities, POSCO International and Korea Housing Finance Corporation issued digital bonds in Hong Kong using different infrastructure. Standard Chartered had also issued a bond through D-FMI less than a month before Hana Bank’s transaction.
Hana Bank therefore became the first Korean bank to use Euroclear’s platform directly, rather than pioneering digital bonds for Korean issuers more broadly.
The transaction comes as South Korea’s Financial Services Commission targets February 2027 for the introduction of a full tokenized-securities framework. Hana Bank has already used distributed-ledger settlement through existing institutional market infrastructure.
Euroclear launched D-FMI in October 2023, when the World Bank’s IBRD issued a €100 million digitally native note. By late 2025, transactions including Doha Bank’s $150 million note had taken total issuance on the platform beyond €1 billion.
Details of Hana Bank’s bond, including its coupon, spread, investor list and full listing information, have not been disclosed.
