Hong Kong Launches Third Multi-Currency Digital Bond

Hong Kong is set to issue its third round of multi-currency “digitally native” bonds, underscoring its ambitions to establish itself as a premier global hub for digital assets.According to a Bloomberg report on Monday, the bonds will be denominated in US dollars, Hong Kong dollars, euros, and offshore yuan.

Sources close to the matter indicated that pricing could occur as early as Monday.Digital bonds are securities issued and managed via blockchain technology, enabling secure, transparent recording of details and ownership on a distributed ledger.

The new issuance may utilize public blockchains such as Ethereum or distributed ledger technology (DLT) platforms provided by institutions like HSBC Holdings or Goldman Sachs.Hong Kong has maintained its dominance as Asia’s top international bond issuance center, capturing nearly 30% of the region’s total and leading the league table for nine consecutive years.

The move follows closely on the heels of global asset manager Franklin Templeton’s launch of Hong Kong’s first tokenized money-market fund. The blockchain-based fund enhances transparency and efficiency in transactions and is currently available to institutional investors.

Additionally, Hong Kong-based corporates have issued at least six digital notes, raising a combined $1 billion, with four of those launched this year, per Bloomberg.

Rain Yin, Director at S&P Global Ratings, noted that the agency has assigned an AA+ rating to the proposed digital notes. Risks, she added, are mitigated by contingency plans to transition the instruments to traditional systems in the event of disruptions.

Singapore has long positioned itself as Asia’s premier financial center, but in 2025, it’s aggressively accelerating its ambitions in digital finance through blockchain, tokenization, AI, and regulatory innovation. Under the Monetary Authority of Singapore (MAS), the city-state is blending cutting-edge tech with robust oversight to attract global talent, capital, and innovation—aiming to lead in tokenized assets, stablecoins, and cross-border payments.

This comes amid competition from hubs like Hong Kong, with events like the Singapore FinTech Festival (SFF) 2025 serving as a launchpad for these efforts.

Signpost NewsDesk

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