TechFlow, Nov. 10 — According to the Ming Pao citing Bloomberg, the Hong Kong government plans to issue digital green bonds denominated in U.S. dollars, Hong Kong dollars, euros, and Chinese yuan, with pricing expected as early as today. This will mark the third time the Hong Kong government has issued digital bonds since 2023, bringing the total size of the previous two issuances to HK$6.8 billion.
S&P Global Ratings and Fitch Ratings have assigned the proposed digital bonds across all currencies an "AA+" and "AA-" rating respectively, consistent with their long-term foreign and local currency issuer ratings for Hong Kong.
According to the report, digital bonds can be issued via distributed ledger technology (DLT) platforms or on public blockchains such as Ethereum, which may offer greater flexibility. Compared to traditional bonds, digital bonds could enable faster settlement, lower costs, and leverage the growing appeal of blockchain-based securities to accelerate scaling.
