On Nov. 28, HKMA issued guidelines on the digital bond grant scheme.
HKMA launched digital bond grant scheme (DBGS), and issuedGuideline on the DBGS.
Aims to promote the development of the digital securities market and encourage broader adoption of tokenization technology in capital market transactions.
Subject to the satisfaction of relevant eligibility requirements under the DBGS, a maximum of HKD 2.5mn will be offered to each eligible digital bond issuance.
DBGS will start accepting applications on Nov. 28, 2024, with initial period of 3 years.
The DBGS covers 50% of the eligible expenses for each digital bond issuance.
DBGS offers each issuer subsidies for a maximum of two digital bond issuances.
The digital bond must be issued in Hong Kong and meet either one of the following.
Either the team involved in the development the distributed ledger technology (DLT) platform and other digital aspects of the issuance must have substantial Hong Kong presence, or have issued on a DLT platform operated by Central Moneymarkets Unit.
The guideline specifies the requirements, eligible expenses, and application process.
Effectiveness
DBGS will start accepting applications on Nov. 28, 2024.
