Blockchain News

Hong Kong to Launch Second Wave of Tokenized Green Bonds

The upcoming issuance aligns with Hong Kong's commitment to sustainable finance, coinciding with the "Green Finance Week" scheduled for February 2024.

The Hong Kong Monetary Authority (HKMA) is set to unveil its second tokenized green bond in the coming months, according to a recent South China Post report. Leveraging blockchain technology for enhanced efficiency and transparency, the move aligns with the government's commitment to green finance. 

The second batch of tokenized green bonds, with a 4.05% return, is expected to coincide with the "Green Finance Week." HKMA Chief Executive Yu Weiman revealed the plans during the upcoming "Green Finance Week" in February 2024, focusing on discussions about green financial transformation and organizing a global climate business forum. 

HKMA Drives Green Finance with Second Tokenized Bond

Hong Kong Monetary Authority (HKMA) announced plans to launch its second tokenized green bond within the next few months. Building on the success of the first HK$800m ($102m) tokenized green bond issued last February, HKMA aims to utilize blockchain technology for bond issuance and tracking green credentials. 

Last week, prominent banks, including Bank of China (Hong Kong), Credit Agricole CIB, Goldman Sachs, and HSBC, conducted roadshows for the upcoming financing round. The move aligns with Hong Kong's rising interest in green bonds and loans, with issuance increasing from $11 billion to over $80 billion in 2023.

HKMA CEO Eddie Yue Wai expressed the intention to explore the complete tokenization process on the blockchain, from issuance to redemption. This move aims to improve efficiency and transparency, showcasing Hong Kong's commitment to embracing emerging technologies in the financial domain.

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