UnionBank Issued The clCountry's First Blockchain-Based Digital Peso Bonds

UnionBank of the Philippines has raised ₱11 bln ($209 mln) after investors rallied around the country's first blockchain-based peso bonds. UnionBank digital bonds were issued through the digital registry and digital depository of the Philippine Depository and Trust Corporation. This was reported by local media on Thursday.

Singapore-based fintech company STACS has been engaged to provide the blockchain-based digital securities trading infrastructure needed to facilitate the offering. HSBC and Standard Chartered acted as joint lead arrangers and bookrunners for the transaction.

The bonds contain a 1.5 year tenor with a fixed rate of 3.25% per annum and are listed for trading on the Philippine Dealing & Exchange Corp marketplace.

Image: Orange Magazine