Hana Bank has issued a $100 million five-year foreign currency digital bond, becoming the first Korean bank to complete a same-day settlement on Euroclear's Digital Financial Market Infrastructure (D-FMI) platform.
The issuance settled on the same day, known as T+0, a significant reduction from the usual three to five business days, according to Hana Bank and Citi.
The bond is also the first digital bond listed on the Singapore Exchange.
Citi and Standard Chartered Roles
Citi served as the issuing and paying agent, coordinating issuance, settlement, and delivery of digitally native notes (DNN) to dealers for investor distribution via Euroclear's settlement bank.
The transaction highlights the expanding role of distributed ledger technology (DLT) in streamlining capital markets.
Dirk Jones, head of Issuer Services at Citi Services, said, "Citi's role in Hana Bank's landmark issuance reflects the commercial scale we are building in digital debt markets, having supported similar transactions across diverse issuers and markets globally."
He added that this issuance represents a milestone for Korea's financial sector and digital capital markets in Asia.
Jones emphasized that the convergence of traditional and digital market infrastructure requires services capable of supporting both, noting, "Citi is committed to supporting our clients through that transition, operating across both traditional and digital financial market infrastructures as the two continue to converge."
Standard Chartered acted as the sole structuring bank, lead manager, and dealer for the transaction, managing its structuring, execution, and distribution.
The issuance leverages Euroclear's existing global settlement network, enabling institutional investors to trade the digital notes using their current Euroclear accounts and trading systems.
Beomjun Cho, Head of Financial Markets Group at Hana Bank, said, "This issuance marks an important milestone in Hana Bank's broader digital innovation journey.
As the first Korean bank to issue digitally native notes on Euroclear's D-FMI, we have demonstrated how new and innovative digital infrastructure can be integrated into established funding programmes while maintaining the security, reliability and accessibility expected by institutional investors."
Cho added that Hana Bank sees digital capital markets playing an increasingly important role in finance's future and remains committed to innovations that enhance efficiency, transparency, and connectivity across markets.
Elodie Norman, Chief Commercial Officer Asia Pacific at Euroclear, highlighted the transaction's significance for the region, stating, "As the first Korean bank to issue a digital bond through Euroclear's D-FMI, Hana Bank is helping pave the way for broader adoption of digital capital markets in Asia."
She noted that combining digital issuance efficiency with established market infrastructure connectivity is key for scaling digital securities and maximizing benefits for issuers and investors.
Hana Bank's digital bond issuance also integrates with its Global Medium Term Note (GMTN) programme, ensuring continuity with previous foreign currency bond issuances.
The move is part of Hana Financial Group's broader efforts to apply blockchain technology to financial infrastructure, following a proof of concept for blockchain-based foreign currency remittance earlier in 2026.
