Traditional financial giants are finally starting to get serious, directly issuing products on-chain instead of just applying a digital label after the fact. Marketnode's role as a node is also critical, and it's worth watching the subsequent scale disclosure.

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)