Hong Kong's HKMA Launches 3-Year Grant Program for Digital Bond Issuers
Hong Kong's monetary authority has initiated a three-year grant program for digital bond issuers. The scheme, launched by the Hong Kong Monetary Authority (HKMA), aims to support the issuance of digital bonds, including those using distributed ledger technology (DLT).
The HKMA's grant program will cover up to half the expenses of each digital bond issuance, with a maximum of two issuances per issuer. This subsidy is designed to encourage the adoption of digital bonds, which the HKMA defines broadly to include bonds with a digital representation of ownership using DLT.
Tokenized bonds, which are conventional bonds with a digital twin on a blockchain, are also eligible for the grant. The identity of the first issuer supported under this new program remains undisclosed in available search results.
The HKMA's grant program is set to run for three years, offering a significant subsidy for digital bond issuers. This initiative is expected to boost the issuance and adoption of digital bonds in Hong Kong, fostering innovation in the bond market.
