Mirae Asset Securities has issued its first digital bond of roughly $72 million. However, it was not a domestic issuance and was launched on the HSBC Orion DLT platform in Hong Kong, in two currencies: HKD 325 million ($41.6m) and USD 30 million. The company is the sister firm of Korea’s largest asset manager, Mirae Asset Global Investments, which has more than $300 billion in AUM.
HSBC was lead arranger with Mirae Asset Securities’ Hong Kong arm acting as co-arranger and the issuance was privately placed.
“The success of issuing digital bonds is an important milestone that South Korean finance can lead the global digital asset standards,” said a Mirae Asset Securities official . “Through an expanded financial ecosystem, we will provide innovative asset formation opportunities from individual investors to institutions, and contribute to South Korea’s leap forward as a global financial hub.” The company views the key benefit of as the automated issuance and redemption processes, as well as coupon payments.
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