HSBC Bank Middle East is partnering with the Abu Dhabi Securities Exchange (ADX) to explore fixed income securities, including tokenized bonds. The intention is to use HSBC Orion, the bank’s digital asset platform, to issue digital bonds and list them on ADX.
“We believe that digital assets will grow in significance in the future and ADX intends to be at the forefront of this innovation,” said Abdulla Salem Alnuaimi, CEO of ADX. “ADX and HSBC will explore a framework that enables digital assets, such as digital bonds, to be made available on HSBC Orion, the bank’s digital assets platform, and to be listed on ADX.”
One of the things slowing adoption of digital bonds is a lack of secondary markets. Hence the importance of the news.
To date HSBC Orion’s main claim to fame is the issuance of a £50 million digital bond by the European Investment Bank (EIB) in February. It’s also developing a digital asset custody offering.
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