HSBC completes its first digital native structured product launch in Hong Kong

HSBC announced on July 10 that it had completed its first digital native structured product issuance in Hong Kong, placing a private placement of a USD-denominated structured note. The note is issued directly on the blockchain rather than being digitized after issuance. Asia-Pacific digital market infrastructure operator Marketnode serves as a tokenization agent and digital payment agent, managing the payment process between issuers and investors.<br /> Marketnode is supported by Euroclear, HSBC, SGXGroup and Temasek. HSBC has positioned the transaction as a pilot project to demonstrate how tokenization can improve issuance, settlement and ongoing services throughout the product life cycle. HSBC did not disclose the size of the issue, reference assets, duration of the note, identity of the investors or the blockchain used. This offering continues HSBC's many years of layout in the field of tokenization. It has previously issued digital native bonds through the HSBCOrion platform and launched retail gold tokens in Hong Kong.