As the first step towards listing the region’s first distributed ledger technology (DLT)-based bond, the Abu Dhabi Securities Exchange (ADX) has announced the start of the pricing stage. The impending bond listing, which is being issued by First Abu Dhabi Bank (FAB) through HSBC Orion, a market-leading digital assets platform, is a significant milestone in ADX’s objective to spearhead financial innovation and assist Abu Dhabi’s digital transformation strategy.
The forthcoming offering is the outcome of a strategic partnership between ADX, HSBC, and FAB that combines worldwide competence in digital issuance with regional financial leadership. The Central Moneymarkets Unit (CMU) in Hong Kong runs HSBC Orion, which powers it. It is organised with assistance from top international law firms, demonstrating the high level of governance.
Through accounts with CMU, Euroclear, and Clearstream, onboarding onto HSBC Orion as a direct participant, or through their current custodian, who may participate through any of the aforementioned alternatives, international investors can get the digital bond.
The addition of the digital bond to ADX’s expanding portfolio of financial products demonstrates the Exchange’s leadership in the development of tokenised finance and advances its overarching goal of providing cutting-edge financial instruments.
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