Hong Kong Government Sells 800M HKD in Tokenized Green Bonds

1. Hong Kong has government has sold 800M HKD worth of tokenized green bonds.
2. Several banks have been hired to conduct investor calls.
3. Bank of China is among the banks selected.

A recent tweet by CryptoNewsLand states that the government of Hong Kong has announced that it has successfully sold 800 million Hong Kong dollars (HKD) worth of tokenized green bonds. This is the first tokenized green bond ever issued by a government anywhere in the world, with a yield of 4.05%.

In addition, the tweets claim that the operation of this effort would take place on a private blockchain platform. This is the first-level issue utilized on a private blockchain network to settle security tokens that reflect the beneficial interests of bonds in a T+1 payment-versus-payment (DvP) manner.

Based on a report by Bloomberg, the government of Hong Kong is said to have hired several banks to conduct investor calls for the sale of tokenized green notes. Bloomberg cited this information. A small selection of the recruited organizations includes names like Bank of China, Goldman Sachs, Credit Agricole, and HSBC.

In a news release, the Hong Kong Monetary Authority said that it plans to call for the publication of a white paper that will “lay out the next steps and give a framework for issuing a tokenized bond in Hong Kong” and explain the lessons learned from this project.

After years of turbulence caused by the coronavirus epidemic, the Special Administrative Region of Hong Kong has taken the next step toward regaining its role as a financial powerhouse by issuing digital green bonds for the first time.

Meanwhile, digital bonds are still a novelty, with Singapore banking giant DBS leading the way as a pioneer issuer. 

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Tags: Green BondsHong Kong