The price of the blockchain-based bonds from China Construction Bank was postponed until further notice “at the request of the issuer”According to a November 13 statement by the Fusang Stock Exchange where they should be traded.
A block explorer scan of the smart contract address associated with the sale No transactions are displayed, suggesting that the sale and issuance of the bonds have also been delayed.
As Cointelegraph reported last week, CCB is the second largest bank in the world in terms of assets.
It was planned to raise a total of up to $ 3 billion through the bond issue. An initial tranche of $ 58 million was due to open for live trading on November 13th.
The bonds were issued as digital assets on the Ethereum blockchain through an overseas office of CCB on the tiny island of Labuan in Malaysia known as the tax haven.
The digital tokens should be sold at a face value of $ 100 eachThis would allow both institutions and private investors to participate in the sale.
The Fusang Exchange, on which the bonds should be traded, is also regulated in Labuan and supports trading in cryptocurrencies. This means that investors could have exchanged Bitcoin (BTC) for dollars in order to participate in the sale.
At this point it is not known when or if the sale will be postponed.