China Construction Bank Corporation (CCB) has postponed its US$3 billion digital bond issuance on the FUSANG exchange.
The blockchain-based digital bond was originally scheduled to go live on the Exchange on Friday, 13 November 2020.
FUSANG exchange, Asia’s first digital securities exchange based in Malaysia, announced that the listing of what would have been the first blockchain-based digital bond has been suspended, following a request from China Construction Bank (CCB).
Henry Chong, Chief Executive Officer of the FUSANG Exchange, stated:
“While we are disappointed that this Listing has been suspended, there were no legal, regulatory, operational, or technical issues with the FUSANG platform or the IPO process and filing.”
“The overwhelming investor interest and demand for this landmark US$3 billion program has been a fantastic validation of the digital issuance and listing process that we have created,” states Henry Chong. “It is unfortunate that the Listing Sponsor has decided that they are unable to proceed with this Listing.”
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