Share this article
BTC
$93,452.24
+
0.73%ETH
$1,795.13
+
2.91%USDT
$1.0003
+
0.01%XRP
$2.2205
+
0.55%BNB
$605.36
-
1.33%SOL
$150.87
+
1.24%USDC
$0.9999
+
0.01%DOGE
$0.1776
+
0.03%ADA
$0.6965
+
3.54%TRX
$0.2470
-
0.01%LINK
$15.01
+
7.34%SUI
$2.9650
+
10.83%AVAX
$22.43
+
1.48%LEO
$9.1196
+
0.93%XLM
$0.2667
+
0.90%TON
$3.2072
+
4.52%SHIB
$0.0₄1341
-
0.85%HBAR
$0.1796
-
0.41%BCH
$357.69
-
1.39%LTC
$82.94
-
0.65%Sign Up
- Back to menuPrices
- Back to menuResearch
- Back to menuConsensus
- Back to menu
- Back to menu
- Back to menu
- Back to menuWebinars & Events
HSBC and Singapore Exchange Execute Successful $300M Digital Bond Issuance
Corporate bonds from Olam International – a major commodities supplier – were issued on SGX's digital asset platform.

One of Asia's first digital bonds has been piloted in Singapore – opening the door for more such issuances using distributed ledger technology (DLT).
- International bank HSBC, Singapore Exchange (SGX) and Singapore government-owned investment firm Temasek said Tuesday their pilot for the DLT-based bond – first mentioned in November – had been successful.
- Per an announcement, S$400 million (around $294 million) worth of 5.5-year corporate bonds from Olam International – one of the world's largest coffee bean, rice and cotton suppliers – were issued on SGX's digital asset platform.
- SGX said the pilot showed DLT could streamline issuances and minimize settlement risk in the Asian bond market.
- The Asian Development Bank estimated in March that the region's local currency bond market was worth approximately $16 trillion last December, up 12.5% on the year before.
- The digital bond used smart contracts to codify rights and obligations, as well as its maturity, into the bond itself.
- An on-chain payments solution from HSBC was also used to facilitate settlement in multiple currencies, as well as to transfer funds to Olam International.
- Olam, which is listed on SGX, has held back a further S$100 million (roughly US$74 million) in the digital bonds for issuance at a later date.
- SGX plays host to one of Asia's largest bond markets and says it has issued over a $1 trillion in debt securities so far.
- Lee Beng Hong, the SGX senior managing director responsible for the pilot, said the exchange is now moving to fully digitalize corporate bond issuances on its platform.
- It's unclear whether other issuances are already in the pipeline.
See also: South Korea’s Central Bank Is Building a New Blockchain System for the Bond Market
Paddy Baker
Paddy Baker is a London-based cryptocurrency reporter. He was previously senior journalist at Crypto Briefing.
Paddy holds positions in BTC and ETH, as well as smaller amounts of LTC, ZIL, NEO, BNB and BSV.
