Malaysian crypto exchange says $3 billion blockchain bond is withdrawn

HONG KONG (Reuters) – A $3 billion bond arranged by a China Construction Bank Corp (CCB) unit using blockchain technology, for listing on a Malaysian cryptocurrency-focused exchange, has been withdrawn at the issuer’s request, the exchange said.

The bond was to be issued by Longbond Ltd, a special purpose vehicle created solely to issue digital bonds and deposit the proceeds with CCB’s branch in Labuan, a Malaysian offshore financial centre.

CCB Labuan was lead arranger and listing sponsor of the bond, which was to be tradable on the FUSANG exchange, a Labuan-based trading platform focused on digital assets including cryptocurrency such as Bitcoin.Reuters News

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