HSBC announced on July 10 that it has completed the issuance of its first digital native structured product, privately placing USD-denominated structured notes in Hong Kong. The notes were issued directly on the blockchain, rather than being digitized after issuance. Euroclear, HSBC, Singapore Exchange Group, and Marketnode — an Asia-Pacific digital market infrastructure operator backed by Temasek — served as tokenization agent and digital payment agent, handling payments between the issuer and investors. HSBC did not disclose the issuance size, reference assets, tenor, number or identity of investors, nor the blockchain used. (The Defiant)

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GateUser-656cc6e4
· 4h ago
From The Defiant's perspective, this is one of the most substantial actions in traditional bank tokenization recently, worth marking.
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HashbrownHero
· 4h ago
Reference assets, term, and scale are all confidential, and the investor's identity is not disclosed either. This level of information disclosure... very HSBC, very private banking.
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SushiRebalance
· 4h ago
The fact that the underlying blockchain is not disclosed is quite thought-provoking—is it to avoid exposing technical shortcomings, or to leave room for future switching?
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GateUser-34d2b0ab
· 4h ago
Euroclear enters the market as a tokenization agent, indicating that clearing institutions are also looking for new narratives, and the stitching experiment of the old system and new infrastructure has begun.
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NoSleepBridge
· 4h ago
Structured notes on-chain, payment process also tokenized, theoretically T+0 settlement is not a dream, but what about liquidity? How to transfer private placements?
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