Hong Kong Mortgage Corporation plans to issue the world's largest digital bond, raising up to HK$12 billion.

According to Mars Finance, the Hong Kong Mortgage Corporation Limited (HKMCC) plans to raise up to HK$12 billion (US$1.5 billion) through its first-ever digital bond issuance, potentially becoming the world's largest such bond issuance ever. HKMCC is a government-owned financial services provider with total assets of approximately HK$221.8 billion. Sources familiar with the matter revealed that HKMCC expects to begin launching multi-currency digital bonds denominated in Hong Kong dollars and offshore RMB as early as next month. Utilizing blockchain technology in the issuance, trading, and settlement of these debt instruments will not only shorten settlement times and reduce costs but also accelerate scalability.