Offshore renminbi digital bond
Shenzhen Futian Investment Holdings, public sector, on Ethereum since September 2025.
UNCERTAIN: flagged rather than dropped. A Chinese state-owned issuer on permissionless Ethereum, Fitch A-, arranged by GF Securities (HK) and listed in Shenzhen and Macau. Single-source, and the reporting itself records that the issuer subsequently removed all mention of the issuance from its own website. Treat as unconfirmed by the issuer.
In the record
11
months from first observation to the record's assessment of August 2026
8
public sector rows in the record, this one included
45
rows filed to Ethereum by their sources
What it bears on
R3Do we know what this instrument is, legally, in every venue we operate?
needs design
ETH is a digital commodity in the United States and stablecoin law is in force. Market-structure legislation stalled, and jurisdictions are diverging.
R6Who is the counterparty when there is no counterparty?
needs design
An ownerless system meeting procurement built for vendors. Six organisations can take your first call, and our own unincorporated status is part of this problem, not outside it.