HK will continue issuing tokenised bonds on regular basis: Chan

HK will continue issuing tokenised bonds on regular basis: Chan

Hong Kong to Regularize Tokenised Bond Issuance Following Record Digital Green Bonds Offering

The Hong Kong Special Administrative Region (HKSAR) Government has confirmed its commitment to regularizing tokenised bond issuance, with Financial Secretary Paul Chan emphasizing that such offerings will become a routine part of the city's financial strategy. This announcement follows the successful pricing of its third digital green bonds offering in November 2025, which raised approximately HK$10 billion across four currencies—HKD, RMB, USD, and EUR—marking the largest digital bond issuance globally to date.

The latest issuance featured innovative advancements, including the integration of tokenised central bank money (e-CNY and e-HKD) in settlement processes for HKD and RMB tranches, a first in digital bond markets. This innovation reduced settlement times, costs, and counterparty risks. The offering also adopted global standards such as Digital Token Identifiers (DTIs) under ISO 24165 and expanded use of the International Capital Market Association's Bond Data Taxonomy, enhancing interoperability between traditional and digital markets.

The issuance attracted strong demand, with total subscriptions exceeding HK$130 billion, reflecting growing institutional interest in tokenised products. The tenor was extended to five years for the RMB tranche, addressing investor appetite for longer-term digital bonds. Chan highlighted that the government will continue refining tokenised bond features, including digital money integration and secondary market accessibility, while supporting the development of comprehensive benchmarks.

Hong Kong's push to regularize tokenised bonds aligns with Policy Statement 2.0, which aims to solidify the city's role as a global hub for digital assets and sustainable finance. Secretary for Financial Services and the Treasury Christopher Hui noted that the issuance reinforces Hong Kong's ability to bridge traditional finance with digital innovation, particularly in green and sustainable finance.

The HKSAR Government's bond tokenisation journey, supported by the Hong Kong Monetary Authority (HKMA) and industry partners, continues to demonstrate progress in scaling digital infrastructure and fostering market confidence. With each issuance, Hong Kong advances its vision of a robust, interoperable digital asset ecosystem.

(https://www.hkma.gov.hk/eng/news-and-media/press-releases/2025/11/20251111-6/): HKSAR Government, November 2025
(https://www.lexology.com/library/detail.aspx?g=c066358c-87df-473f-816a-b44c6bfb8da7): Policy Statement 2.0 on Digital Assets, June 2025