Overview
- Hong Kong is marketing its third government-backed digital green bond in USD, HKD, EUR and offshore yuan, with pricing possible today and proceeds earmarked for environmental projects.
- The notes are digitally native and will be created and settled on HSBC’s distributed-ledger platform.
- S&P assigned the bonds an AA+ rating and noted a fail-safe that allows a switch to conventional systems if required.
- Institutional adoption is growing, with at least six corporate tokenized bonds raising about $1 billion, including recent issues by Shenzhen Futian Investment Holdings and Shandong Hi-Speed.
- The deal advances Hong Kong’s 2025 digital-asset strategy, including a stablecoin licensing regime and spot crypto ETFs, even as analysts say legal frameworks for tokenized debt still need clearer rules.