HSBC Launches MENA’s first Blockchain Bond with ADX and FAB
HSBC has joined forces with Abu Dhabi Securities Exchange (ADX) and First Abu Dhabi Bank (FAB) to introduce the region’s first digitally native bond on blockchain. This innovative move expands HSBC’s digital bond offerings on its Orion platform.
As per Middle East Economy, ADX has started the pricing process for this new product. The bond, issued by FAB, will be available through HSBC’s Orion platform.
Orion, a blockchain-based digital asset infrastructure, operates in Hong Kong and Luxembourg.For this issuance, the Hong Kong platform is chosen due to its integration with Euroclear and Clearstream, ensuring global investor access.
This collaboration marks Orion’s debut in the Middle east. Though,it’s not the platform’s first digital bond. Previously, orion supported a digital treasury note from Luxembourg and a €100 million digital bond by the European Investment Bank. The platform also facilitated HKMA’s multi-currency green bond, reducing settlement times and opening doors for over 50 global investors.
orion’s capabilities extend beyond bonds. It has launched tokenized gold for retail investors, showcasing its versatility. The platform aims to streamline financial processes and enhance accessibility.
- First digitally native bond in MENA using blockchain technology.
Issued by FAB, the bond will be available through HSBC’s Orion platform. Orion, a blockchain-based digital asset infrastructure, operates in Hong Kong and Luxembourg. For this issuance, the Hong Kong platform is chosen due to its integration with Euroclear and Clearstream, ensuring global investor access.
