(Bloomberg) -- The government of Hong Kong is marketing its latest offering of digital green bonds, as the city works to boost its role as a digital-asset hub.
Hong Kong is planning four tokenized green notes in currencies including the offshore Chinese yuan, the Hong Kong dollar, the US dollar, and the euro, respectively, with the size of the issuance to be determined, according to people familiar with the matter who requested anonymity discussing private matters.
The planned issuance will use HSBC Holdings Plc's tokenization platform, HSBC Orion, according to the people.
Using blockchain-powered platforms, digital bonds can potentially offer quicker settlement as they bypass clearing systems, while coupon payments can also be made faster.
The issuance of the bonds is part of the Hong Kong government's green bond program, an initiative to promote green finance with proceeds used for financing government projects with environmental benefits. Hong Kong issued HK$800 million ($102 million) of 365-day tokenized green notes a year ago, in its debut issuance.
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