Ethereum Scores Milestone As Chinese Firm Floats 1st Public RWA Bond

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 ￰0￱ State-Backed RWA Bond On Ethereum According to reports, Futian Investment Holding completed a 500 million yuan issuance of offshore bonds on August ￰1￱ bonds , equal to nearly $70 million, were rolled out in Hong Kong and listed on the Ethereum ￰2￱ carry a 2.62% annual interest rate and will expire in two ￰3￱ 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 ￰4￱ 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. #UZX BREAKING NEWS #RWA Futian Investment Holding Announces Issuance of the World’s First Public RWA Digital Bond on a Public Blockchain ￰5￱ — UZX Official (@UZX_Official) September 2, 2025 Crypto Still Off-Limits At Home The move does not mean that China has softened its ban on crypto or ￰6￱ in 2021, Beijing imposed a full ban on crypto mining and ￰7￱ at the time said the measures were needed to control energy use and to guard against risks that might destabilize the country’s financial ￰8￱ ban remains in effect ￰9￱ citizens and companies in mainland China are still blocked from using or trading ￰10￱ is allowed, however, are limited experiments like tokenized bonds that stay within the bounds of traditional ￰11￱ Kong As A Testing Ground By routing the deal through Hong Kong, Beijing can keep its domestic ban intact while still signaling that it wants exposure to blockchain-based ￰12￱ bustling metro has been given more room to try out digital asset projects, and this latest bond fits into that role.

China’s strategy delineates a clear split: blockchain as a tool for finance is embraced in regulated manifestations, while crypto as an unfettered market asset is still ￰13￱ , particularly dollar-denominated stablecoins, have also attracted scrutiny in Beijing, with officials concerned that they can undermine other currencies based around the ￰14￱ suggest this RWA bond may be the first in a series of state-backed blockchain and Ethereum financial products tied to Hong ￰15￱ now, the issuance shows China’s intent to cautiously explore blockchain without reopening the door to Bitcoin, stablecoins, or wider crypto ￰16￱ image from Agoda, chart from TradingView