Hong Kong Expands Push Into Blockchain Finance With Multi-Currency Digital Bonds

Quick Breakdown

• Hong Kong issues a third round of multi-currency digital bonds via blockchain.
• Bonds may utilize Ethereum or DLT platforms provided by HSBC and Goldman Sachs.
• City strengthens its push to become Asia’s top digital asset hub.

 

Hong Kong is deepening its commitment to blockchain-based finance with a fresh issuance of multi-currency digital bonds, in a bid to cement its role as a global centre for digital assets .

According to Bloomberg, the city’s government is marketing a new batch of “digitally native” bonds denominated in U.S. dollars, Hong Kong dollars, euros, and offshore yuan. The pricing could be finalized as early as Monday, sources familiar with the offering revealed.

1/ Hong Kong has launched its third government-issued digital bond, following earlier tokenisation issues. The new offering strengthens the city’s ambition to scale blockchain-native debt instruments.

— Origin VC (@Origin_vc) November 10, 2025

Blockchain integration in bond issuance

The latest offering marks Hong Kong’s third digital bond sale, leveraging blockchain technology to issue, record, and settle transactions securely. These bonds may be hosted on public blockchains such as Ethereum or through distributed ledger technology (DLT) platforms operated by financial giants, including HSBC Holdings and Goldman Sachs.

Digital bonds differ from traditional instruments in that they utilize blockchain technology to streamline issuance, enhance transparency, and reduce settlement times. The move underscores Hong Kong’s ambition to integrate distributed ledger technology into mainstream financial markets while expanding investor access to tokenized assets.

Strengthening market leadership in Asia

Hong Kong already accounts for roughly 30% of Asia’s international bond issuances, maintaining its top position in the region for nine consecutive years. The latest offering follows Franklin Templeton’s recent launch of Hong Kong’s first tokenized money-market fund, another step toward digitizing capital markets.

The report noted that Hong Kong-based corporations have issued at least six digital notes, raising a combined $1 billion, with four launched this year alone. S&P Global Ratings has assigned an AA+ rating to the proposed digital notes, noting that contingency plans are in place to ensure a smooth transition to traditional systems in the event of disruption.

Meanwhile, the Hong Kong Legislative Council has issued a special bulletin outlining new policy directions in digital finance, highlighting the rising prominence of stablecoins, including those backed by China’s renminbi (RMB), a signal of the city’s broader strategy to integrate digital assets into its financial system.

 

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