Hana Bank issues $100M digital bond on Euroclear

Hana Bank issued a $100 million five-year digital bond on Euroclear’s D-FMI, cutting settlement from three-to-five business days to same day.

Hana Bank issues 0M digital bond on Euroclear

Hana Bank has issued a $100 million five-year foreign-currency digital bond through Euroclear’s blockchain-based D-FMI platform, completing allocation and settlement on the same day.

Summary

Hana Bank issued a $100 million five-year digital bond through Euroclear’s D-FMI blockchain platform Friday.
The transaction shortened settlement from three-to-five business days to same-day processing, according to Hana Bank.
Investors can trade the digital bond through existing Euroclear accounts without adopting separate trading systems.
Euroclear launched D-FMI in 2023 with a €100 million World Bank digitally native note issuance.
D-FMI connects digital issuance with Euroclear’s traditional settlement infrastructure for secondary-market trading and liquidity access.

Yonhap News reported on Sept. 21, citing Hana Bank, that the transaction used Euroclear’s Digital Financial Market Infrastructure to process issuance, registration and settlement through distributed ledger technology. Hana said the structure reduced a process that normally takes three to five business days to same-day settlement.

A separate report citing the bank placed the issuance on Sept. 18 and described it as the first T+0 settlement in South Korea’s foreign-currency bond market. The same report said the bond was issued under Hana Bank’s global medium-term note documentation, with Standard Chartered serving as sole lead manager.

Hana Bank digital bond settles through D-FMI in one day

Hana Bank said the $100 million bond used DLT for bond allocation and payment settlement. Euroclear’s platform recorded the digital security while keeping the instrument connected to its international securities infrastructure, according to the bank’s statement reported by Yonhap.

Investors do not need a separate trading system to access the bond. Hana said holders can use their existing Euroclear accounts and trading arrangements because D-FMI connects to Euroclear’s established global settlement network.

Euroclear’s own D-FMI documentation confirms the platform supports issuance, distribution and primary-market settlement of fully dematerialized Digital Native Notes using DLT. Euroclear says Digital Securities Issuance, or D-SI, forms the first service available through D-FMI.

The infrastructure supports delivery-versus-payment settlement in U.S. dollars and euros. Euroclear says securities created through D-FMI can then move into its conventional settlement environment for secondary-market activity, allowing investors to use existing trading venues and liquidity tools.

Euroclear’s documentation states that pricing, distribution and settlement can take place on the same day. It describes the service as integrated with Euroclear Bank and compliant with the Central Securities Depositories Regulation.

Hana’s deal follows another $100M Korean digital bond

Hana Bank’s transaction is not South Korea’s first foreign-currency digital bond overall. KB Kookmin Bank completed a separate $100 million blockchain-based bond sale in June using HSBC’s Orion platform.

As crypto.news previously reported, KB Kookmin issued a two-year digital bond in Hong Kong, with the transaction cutting settlement from five business days to three. The deal used HSBC Orion instead of Euroclear D-FMI.

Hana’s Sept. 18 transaction therefore carries a narrower first: Yonhap described it as South Korea’s first digital bond to directly use Euroclear’s proprietary blockchain infrastructure. The bank’s other cited first concerns same-day settlement in the domestic foreign-currency bond market.

The structure kept the digital security connected with established institutional market infrastructure. DigitalToday reported that Hana used documentation from its existing global medium-term note framework, with Standard Chartered managing the bond’s structure, issuance and sale.

Hana Financial Group and Standard Chartered had already agreed in March to cooperate on global business and digital assets. Their agreement covered areas including tokenization and other digital-asset services, according to Hana Financial’s announcement reported at the time.

Euroclear has expanded D-FMI since its 2023 launch

Euroclear introduced D-SI in October 2023 as the first service built on its D-FMI infrastructure. The inaugural transaction involved a €100 million digital bond from the World Bank’s International Bank for Reconstruction and Development.

The World Bank security was issued, distributed and settled using DLT before being connected with Euroclear’s conventional infrastructure for later trading. Citi acted as issuing and paying agent, TD Securities served as dealer, and the bond was listed on the Luxembourg Stock Exchange.

Euroclear has since processed digital debt from banks and multilateral institutions in several markets. Its current D-FMI materials list transactions involving the Asian Infrastructure Investment Bank, Türkiye’s İşbank and Akbank, France’s Caisse des Dépôts et Consignations and Citi.

In 2025, İşbank issued a $100 million digitally native note through D-FMI with the International Finance Corporation as sole investor. Euroclear said the transaction used DLT for issuance, distribution and settlement while remaining connected to established trading and liquidity infrastructure.

Akbank followed with another $100 million DNN in December 2025. Euroclear said at the time that it had facilitated seven other digital issuances worth €800 million since the platform’s first deal with the World Bank.

Institutional use continued into 2026. In related coverage, crypto.news reported that Banco do Brasil invested $5 million in a digitally native structured note issued by Citi through Euroclear’s D-FMI infrastructure. Citi’s Luxembourg entity issued the note, while its London branch handled issuance and payment agency functions.

Digital bond settlement is expanding across Asian markets

South Korea’s banks are testing digital debt while other Asian financial centers are developing regulated DLT settlement systems.

In June, the Hong Kong Mortgage Corporation priced approximately HK$12 billion, or $1.5 billion, of digital bonds across three tranches. As crypto.news reported, the issuer described the transaction as the world’s largest completed digital bond sale at that point, with orders reaching around HK$24 billion from more than 100 institutional accounts.

Hong Kong’s transaction used the Central Moneymarkets Unit’s blockchain platform and reduced settlement from five business days to three. Investors retained access through existing infrastructure connected with Euroclear and Clearstream.

Hana Bank has been building its own connection to international securities settlement channels this year. On Aug. 27, the bank said it had completed a Korean government bond transaction and linked U.S. dollar settlement through an international central securities depository, becoming the first South Korean commercial bank to complete that type of transaction, according to Yonhap.

The bank had been building the process since South Korea permitted offshore settlement of government bonds through international central securities depositories in January 2026. Hana said the August transaction combined the government bond trade with foreign-exchange settlement in dollars.

For the new digital bond, Hana has disclosed a five-year tenor but has not announced another D-FMI issuance schedule in the materials reviewed as of Sept. 21. Euroclear’s platform will allow the issued security to move through its existing settlement infrastructure for secondary-market transactions using participating investors’ current accounts and systems.

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