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Hong Kong Scores First HK$800M Issuance of Tokenized Green Bonds

The Government of the Hong Kong Special Administrative Region of the People’s Republic of China (HKSAR Government) announced on Feb 16 that it had issued HK$800 million in tokenized green bonds, under the Government's Green Bond Program (GBP). The bonds were underwritten by four banks and priced at a yield of 4.05%.

According to the announcement, the platform used Goldman Sachs' tokenization protocol GS DAP for the bond, which uses a private blockchain network to settle security tokens representing the beneficial interests of bonds in a T+1 payment-vs-payment (DvP) manner, and cash tokens representing claims on the HKMA's Hong Kong dollar legal tender. 

The successful issuance of the tokenized green bond highlights the growing adoption of blockchain technology in the financial industry and marks an important step towards the development of sustainable finance globally.

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