Multinational banking giant HSBC has revealed plans to issue digital bonds to corporates and financial institutions through its new proprietary tokenization platform called HSBC Orion.
By harnessing the power of distributed ledger technology (DLT), HSBC Orion will enable token-based transactions. As a result, attain digital delivery versus payment.
Per the report:
“The platform leverages blockchain technology as a ‘single source of truth,’ whereby asset and settlement tokens sit natively and securely on the platform’s ledger.”
Therefore, HSBC Orion is eyeing the issuance of the first-ever GBP tokenized bond in accordance with Luxembourg law.
Once rolled out, HSBC Orion will be expanded to other asset classes and locations.
John O’Neill, HSBC’s global head of digital asset strategy, markets, and securities services, pointed out:
“Digital assets are a fast-growing part of financial markets. Our clients…
