Hong Kong extends digital bond ambitions with third offering
Government looking to sell digital green bonds denominated in US dollars, Hong Kong dollars, euros and offshore yuan, sources say
Hong Kong is marketing a new set of “digitally native” bonds denominated in multiple currencies, intensifying the city’s drive to become a global hub for digital assets.
The government was looking to sell digital green bonds denominated in US dollars, Hong Kong dollars, euros and offshore yuan, according to people familiar with the matter. The deal could be priced as early as Monday, said the people, asking not to be identified discussing a private matter.
If successfully priced, it would mark Hong Kong’s third such sale since 2023.
Digital bonds have been gaining momentum in Hong Kong as the government takes steps to encourage tokenised bond issuance. The push has come as policymakers across Asia have been rushing to embrace digital assets, looking to keep pace with US President Donald Trump’s pro-crypto policies.
“Singapore and Dubai have made strong strategic moves in digital assets, posing real competition to Hong Kong,” said Li Han, an analyst at Citic Securities. The city’s legal framework still needs clarity on tokenised bonds, as the existing system is designed based on traditional bonds, Li added.