Hua Xia Bank Issues $600 Million in Tokenized Yuan Bonds, Aiming to Streamline Finance

Hua Xia Bank, a Chinese financial institution with government ties, has issued 4.5 billion yuan ($600 million) worth of tokenized bonds on Wednesday. This move seeks to simplify financial transactions by eliminating the need for intermediaries in bond auctions. The bonds were issued by Hua Xia Financial Leasing, a subsidiary of Hua Xia Bank, which operates under Chinese government control.