It could just be China trying to do something different so their investors don't turn to bitcoin... It could've been too late though and the banks thereay still end up using bitcoin in the long run however it might be far off before they do...
It might also be a way for the bank to raise funds off the back of bitcoin during a crisis...
Topic: World's Second-Biggest Bank to Issue $3B in Bonds Tradable for Bitcoin - page 2. (Read 231 times)
November 12, 2020, 11:53:01 AM
November 12, 2020, 11:42:04 AM
Have never heard of that bank, until today. But it's the World's second-biggest bank: China Construction Bank.
I'm a bit confused with the news because on the one hand some report that: "It's going to issue 3B in bonds tradable for bitcoin."
Source: https://www.coindesk.com/china-bank-government-bond-blockchain-bitcoin
On the other hand we can see:
The bank: "is selling a cheap digital bond that buyers can invest as little as $100 in."..."the bond is “the first publicly listed debt security on a blockchain.”"..."Steven Wong, the chief operating and financial strategist for CCB Malaysia, added that the bank considered the issuance of the bonds as both a pilot project and an innovative offering. However, he also cautioned against rumors. “The bank is not dealing in Bitcoin or cryptocurrencies,” Wong stated.
Source: https://cryptoslate.com/one-of-chinas-biggest-banks-is-allowing-investors-to-buy-bonds-with-bitcoin/
Do you think this is bullish? It's appeared in various crypto news sites as having a big impact in the bitcoin market but I'm confused about what Steven Wong says.
I'm a bit confused with the news because on the one hand some report that: "It's going to issue 3B in bonds tradable for bitcoin."
Source: https://www.coindesk.com/china-bank-government-bond-blockchain-bitcoin
On the other hand we can see:
The bank: "is selling a cheap digital bond that buyers can invest as little as $100 in."..."the bond is “the first publicly listed debt security on a blockchain.”"..."Steven Wong, the chief operating and financial strategist for CCB Malaysia, added that the bank considered the issuance of the bonds as both a pilot project and an innovative offering. However, he also cautioned against rumors. “The bank is not dealing in Bitcoin or cryptocurrencies,” Wong stated.
Source: https://cryptoslate.com/one-of-chinas-biggest-banks-is-allowing-investors-to-buy-bonds-with-bitcoin/
Do you think this is bullish? It's appeared in various crypto news sites as having a big impact in the bitcoin market but I'm confused about what Steven Wong says.
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