Hong Kong has emerged as the leading global hub for digital bonds on the blockchain, with supportive regulations and a sophisticated investor base. HSBC has issued the first digitally native bond by a local private entity in Hong Kong, following its role in anchoring the city's $750 million digital bond in February. The bank issued a HK$1 billion ($130 million) digital bond on its Orion blockchain platform, listing it on the Hong Kong Stock Exchange. HSBC integrated the Hong Kong Monetary Authority's Central Moneymarkets Unit to increase liquidity and allow investors outside its blockchain platform to participate. Additionally, Hong Kong's financial regulators, the HKMA and SFC, have pledged to align their digital asset over-the-counter derivative rules with those of the European Union. They plan to introduce mandatory unique product and transaction identifiers for OTC derivatives and improve regulations in response to industry feedback.



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