Ethereum Achieves Landmark as First Public RWA Bond is Issued by Chinese Corporation
In a significant development, Futian Investment Holding has completed a 500 million yuan issuance of offshore bonds on August 29. This latest bond, worth nearly $70 million, was routed through Hong Kong and listed on the Ethereum blockchain, marking China's latest foray into blockchain-based finance.
The bond, carrying a 2.62% annual interest rate and expiring in two years, could be the first in a series of state-backed blockchain and Ethereum financial products tied to Hong Kong. This move does not indicate that China has softened its ban on cryptocurrencies or Ethereum, but rather a strategic exploration of blockchain technology without reopening the door to Bitcoin, stablecoins, or wider crypto adoption.
Beijing has shown interest in exposure to blockchain-based finance through this latest bond. The company described the deal as part of an effort to expand its funding sources. Officials at the time said the measures were needed to control energy use and to guard against risks that might destabilize the country's financial system.
China's strategy delineates a clear split: blockchain as a tool for finance is embraced in regulated manifestations, while crypto as an unfettered market asset is still off-limits. Ordinary citizens and companies in mainland China are still blocked from using or trading cryptocurrencies, and Beijing imposed a full ban on crypto mining and trading in 2021.
Stablecoins, particularly dollar-denominated stablecoins, have attracted scrutiny in Beijing. Officials are concerned that stablecoins can undermine other currencies based around the world. However, this latest bond aligns with Hong Kong's push to attract digital asset innovation. China is using Hong Kong as a testing ground for blockchain-based finance.
Notably, the first state-supported RWA bond on Ethereum was issued by Franklin Templeton with their on-chain money market fund FOBXX (token access via BENJI) as of July 31, 2025. This suggests that China's interest in blockchain finance is not a one-time event, but a long-term strategy.
As the world continues to evolve in its adoption and understanding of blockchain technology, China's latest move underscores its commitment to leveraging this technology in a controlled and strategic manner. The implications of this development are significant, and it will be interesting to see how China's exploration of blockchain finance unfolds in the coming years.
Read also:
- Digital Chain's Rapid Transformation Ahead!
- Government grants of nearly a million euros for sports facilities in Bremen: funding for sports halls, entrance barriers, and locker rooms for local clubs
- Dangerous Pollutant Removal: Naval Weapons Industrial Reserve Plant and Northrop Grumman Corporation Site (NWIRP) in Bethpage, New York – Clean-up Initiated
- Unrestricted Transportation of Plastic Debris
