Chinese State-Owned Enterprise Launches Revolutionary RWA Digital Bond on Ethereum Blockchain

State-backed entity shatters traditional finance barriers—debuts real-world asset tokenization on Ethereum's global ledger.

The Digital Leap Forward

Forget paperwork and intermediaries. This isn't just another bond issuance—it's a seismic shift in how sovereign-linked assets move on-chain. The offering leverages Ethereum's smart contracts to automate compliance, distribution, and settlement—cutting settlement times from days to minutes while bypassing legacy banking bottlenecks.

Why It Shakes the System

Traditional finance just got a wake-up call. By tokenizing real-world assets directly on a public blockchain, China's state company isn't dipping toes—it's diving headfirst into decentralized infrastructure. The move signals institutional confidence in crypto's backbone—even as regulators elsewhere still debate definitions.

Fine Print Realities

Sure, Wall Street will call it 'experimental'—but when has innovation ever waited for permission? Tokenized bonds could unlock trillion-dollar liquidity pools… if traditional investors can stomach the volatility. (Spoiler: they'll adopt it once they see the fees saved.)

Bottom line: When state-owned giants play on Ethereum, it's not a test—it's a takeover. And frankly? Watching traditional finance scramble to keep up is almost as satisfying as the yield.

First Publicly Listed RWA Digital Bond

Tokenized bonds in Hong Kong have typically been distributed via private placements. This public offering broadens investor access while demonstrating the integration of blockchain technology within regulated financial markets.

The tokens are FTID TOKEN 001 (ticker: FTID001, Chinese shorthand: 福币), registered and managed directly on Ethereum. The bond carries a 2.62% coupon, matures in two years, and has received an A- rating from Fitch Ratings, reassuring investors about its credit quality.

Notably, SFIH, a Shenzhen-based state-owned enterprise, has monitored global capital markets closely since its first overseas bond issuance in October 2024. As a result, the company seized the opportunity to capitalize on the rising demand for RWA instruments.

In addition, SFIH explained that the issuance supports its broader strategy. It helps diversify international funding channels while optimizing the firm’s capital structure.

Hong Kong Strengthens Digital Finance Role

The deal was executed in Hong Kong, a city aiming to become a leading hub for digital finance. GF Securities (Hong Kong) served as lead underwriter. Other participants included CMB International, CICC, Minsheng Capital, Orient Securities International, Hong Kong Rongtong Securities, and Guoyuan International.

Moreover, analysts view the transaction as a significant development in China’s financial innovation. Led by SFIH’s example of an SOE issuing tokenized debt linked to real-world assets, more Chinese firms may soon consider blockchain-based fundraising methods.

Furthermore, tokenization can bring several advantages. It may increase transparency, reduce settlement times, and provide easier market access for global investors. These features make tokenized securities an attractive option compared to traditional debt instruments.

Meanwhile, other markets, from major banks to asset managers, also experiment with tokenization. BlackRock’s tokenized US Treasury fund, BUIDL, is a typical example. This global momentum suggests that tokenized bonds could evolve into a mainstream financing tool rather than remain niche.