HSBC completes first digital native structured product issuance in Hong Kong

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TechFlow News, July 10, according to The Defiant, HSBC completed its first digital native structured product private placement in Hong Kong, issuing USD-denominated notes directly on the blockchain (rather than digitizing after issuance). Marketnode acted as tokenization agent and digital payment agent, managing the flow of funds between the issuer and investors. HSBC did not disclose the issue size, reference assets, tenor, or the blockchain used, among other details.

This issuance is positioned as a pilot project, aiming to verify the application potential of tokenization technology throughout the product lifecycle (issuance, settlement, ongoing servicing). It is a continuation of HSBC's multi-year push into the digital asset space. Previously, the bank has launched the HSBC Orion tokenization platform and retail gold tokens, and has participated in the Monetary Authority of Singapore's Project Guardian together with Marketnode and UOB.

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