HSBC Issues First Digitally Native Structured Product in Hong Kong
The post HSBC Issues First Digitally Native Structured Product in Hong Kong appeared on BitcoinEthereumNews.com. The bank placed USD-denominated notes issued directly on a blockchain, with Marketnode acting as tokenization agent and digital paying agent. HSBC has completed what it describes as its first issuance of a digitally native structured product, a private placement of USD-denominated notes in Hong Kong, the bank said in a July 10 release. The notes were issued directly on a blockchain rather than digitized after issuance. Marketnode, an Asia-Pacific digital market infrastructure operator backed by Euroclear, HSBC, SGX Group and Temasek, acted as the tokenization agent and as the digital paying agent managing payment flows between issuer and investor. HSBC did not disclose the size of the issuance, the reference asset, the tenor of the notes, the number or identity of investors, or the blockchain used. What Was Issued The transaction was a private placement of structured notes,