HSBC cooperates with ADX and FAB to introduce the first digital Native Association of the Mena region on blockchain, which contributes to the growing HSBC portfolio of digital bonds on its Orion platform.
HSBC cooperates with Abu Dhabi Securities Exchange and First Abu Dhabi Bank to launch the first digital native bond of the Mena region with the help of distributed ledger technology. As reported by the Economy of the Middle East, ADX has already started the price process for the product.
The union is issued by FAB and is launched via the HSBC-A blockchain-based digital assets infrastructure. Orion is managed via the Central Maymarkets Unit in Hong Kong and also runs in Luxembourg, but this issue will use the Hong Kong platform because of the integration with Euroclear and Clearstream, making seamless access for global investors possible.
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The current collaboration with ADX and FAB Marks Orion’s first access to the Middle East. However, it is not the first digital bond launched via the platform. Orion has previously supported the launch of a digital treasury bill of Luxembourg, as well as a digital bond of € 100 million issued by the European Investment Bank, arranged through a wholesaler of digital currency of the Central Bank.
In addition, in February last year, Orion supported HKMA’s groundbreaking issue of Green Bonds Bonds, where the Hong Kong government has issued a HKD 6 billion-equivalent digital bond in HKD, CNH, USD and EUR. This issue, arranged with the help of atomic delivery -versus payment, reduced settlement times from T+5 to T+1 and opened access to more than 50 global investors.
Apart from bonds, the platform was also used to launch tokenized gold for retail investors.
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