Hong Kong Mortgage-Backed Securities plans to use blockchain technology to issue the world's largest digital bond, raising up to 12 billion Hong Kong dollars.

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ME News report: On April 8 (UTC+8), Hong Kong Mortgage Corp., a financial institution wholly owned by the Hong Kong government, is considering issuing its first digital bond. It plans to raise approximately HKD 10 billion to 12 billion; if the upper end is reached, it would become the largest digital bond issuance globally. The multi-tranche bonds are intended to be denominated in Hong Kong dollars and offshore Renminbi. The market sale is expected as early as next month, though the specific terms are still under discussion. The report said this move aligns with Hong Kong’s policy direction of promoting the regular issuance of digital assets and tokenized bonds. The related digital bonds will be issued, traded, and settled via blockchain to shorten the settlement cycle and reduce operating costs. (Source: PANews)

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