Kookmin Bank, South Korea’s largest bank by assets, has issued a two-year $100mn digital bond on HSBC Orion, becoming the first South Korean financial firm to use the platform, according to a report on 10 Jun.
Kookmin Bank Issues South Korea’s First Digital Bond on HSBC Platform
10 June 2026 - 11:29 CEST
By Oihyun Kim
The issuance was arranged through HSBC Orion, a blockchain-based platform for issuing and settling digitally native debt instruments. HSBC also acted as sole bookrunner. The bond is settled through Hong Kong’s Central Moneymarkets Unit (CMU), the debt securities clearing system operated by the Hong Kong Monetary Authority (HKMA).
Proven use cases
Orion has been used for several high-profile digital bond transactions, including the Hong Kong government’s large-scale issuance in 2025 and the UK government’s Digital Gilt Instrument pilot earlier this year. The Kookmin deal also qualifies for the HKMA’s Digital Bond Grant Scheme, which offers subsidies of up to HKD2.5mn (~$320,000) per eligible issuance. Kookmin Bank said it expects the scheme to help offset part of its issuance costs.
Digital finance push
Kookmin Bank, the banking subsidiary of KB Financial Group (one of South Korea’s largest financial conglomerates), described the deal as "an example of applying blockchain technology, which is attracting attention as future financial infrastructure, to actual fundraising." The bank recently completed a proof of concept for Korean won-pegged stablecoin payments and remittances and said the digital bond issuance builds on that initiative.
The bank said the move would give it experience in onchain funding and improve access to global investors, while strengthening its ability to respond to developments in digital financial markets. Kookmin did not disclose the coupon rate, pricing details or settlement date in its announcement.
