TLDR
- Futian Investment issued a 500M yuan RWA bond on Ethereum in Hong Kong.
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The Ethereum-based bond carries 2.62% interest with a two-year maturity.
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This marks the world’s first public RWA bond issued on Ethereum.
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China bans crypto trading but supports blockchain finance use cases.
China has taken a major step in blockchain-based finance as Futian Investment Holding issued the first publicly offered real-world asset (RWA) bond on the Ethereum blockchain. The Shenzhen-based state-owned enterprise announced the issuance of offshore yuan-denominated bonds in Hong Kong on August 29.
Details of the Ethereum bond issuance
The bond, named FTID TOKEN 001, was issued at a scale of 500 million yuan (about $69 million). It has a two-year maturity period and carries a face interest rate of 2.62%. According to the company, the offering represents the first global RWA public digital bond to be recorded on the Ethereum public blockchain.
Futian Investment said the move would broaden its financing channels and optimize its capital structure while benefiting from Hong Kong’s policy environment. The company added that the effort also supports the development goals of the Futian District in Shenzhen, one of China’s leading financial hubs.
The RWA bond is structured as a traditional debt instrument but issued through blockchain technology. This enables investors to purchase the company’s debt in tokenized form while maintaining the familiar features of a conventional bond.
By using Ethereum as the settlement layer, Futian Investment said it aims to align with global trends in tokenization and asset digitization. The company highlighted that the blockchain registry of ownership would allow greater transparency and efficiency in tracking bond transactions.
China’s approach to digital assets
While China maintains a ban on cryptocurrency trading and mining, it continues to adopt blockchain applications in specific financial use cases. Authorities have supported projects involving tokenized deposits, cross-border payment pilots, and now RWA bonds.
In this context, the Futian bond shows how Chinese firms are using blockchain without contradicting the country’s restrictions on speculative crypto activity.
Officials see tokenization as a way to modernize capital markets while maintaining strict oversight of digital asset activity.
Strategic goals and market outlook
Futian Investment emphasized that the issuance reflects its focus on international capital market participation and the integration of digital technology with corporate financing.
The company said the project “injects state-owned enterprise momentum into the high-quality development of Futian District.”
The firm also noted that since its first offshore bond in October 2024, it has closely tracked international financial trends and RWA adoption. By advancing tokenized bonds, Futian seeks to position itself as a pioneer in bridging traditional finance and blockchain-based innovation.
