China has taken another step into blockchain-based finance, but in a way that avoids direct involvement with cryptocurrencies.
A state-owned firm in Shenzhen has launched a digital bond offering on Ethereum, showing how the country is selectively embracing new technology while keeping its hard stance on crypto trading in place.
First State-Backed RWA Bond On Ethereum
According to reports, Futian Investment Holding completed a 500 million yuan issuance of offshore bonds on August 29.
The bonds, equal to nearly $70 million, were rolled out in Hong Kong and listed on the Ethereum blockchain. They carry a 2.62% annual interest rate and will expire in two years.
The company described the deal as part of an effort to expand its funding sources while also responding to the growing use of real-world assets and tokenization in global markets.
It also pointed to Hong Kong’s supportive policies as a factor in the decision, saying the bond aligns with the district’s push to attract digital asset innovation.
Futian Investment Holding Announces Issuance of the World’s First Public RWA Digital Bond on a Public Blockchain pic.twitter.com/E2sGIJZdwl
— UZX Official (@UZX_Official) September 2, 2025
