PANews reported on June 10 that, according to the Korea Economic Daily, Kookmin Bank of Korea successfully issued $100 million in blockchain digital bonds, marking the first such issuance by a Korean bank. The bonds were issued through HSBC's digital asset platform, Orion, and will subsequently be integrated into the clearing and settlement system of the Hong Kong Monetary Authority's Central Depository & Clearing Corporation. Kookmin Bank will also utilize the Hong Kong Monetary Authority's digital bond subsidy scheme to reduce some of the issuance costs. The bank stated that this issuance is part of KB Financial Group's "transformation and expansion" strategy, accelerating its digital financial transformation following the completion of verification of its Korean won stablecoin payment and settlement technology.