Mirae Asset Securities announced on the 29th that it succeeded in issuing digital bonds worth a total of 100 billion won for the first time in Korea.

The digital bonds were issued simultaneously at $325 million in Hong Kong dollars (HKD) and $30 million in US dollars (USD). HSBC was in charge of the manager and Mirae Asset Securities’ Hong Kong subsidiary was in charge of the assistant manager. In order to maximize initial stability, a private placement recruitment method was adopted.

HSBC’s own tokenization platform “Orion,” which is linked to the Hong Kong Monetary Authority’s (HKMA) official bond settlement infrastructure, CMU (Central Moneymarkets Unit), was used in the issuance process. The company explained that this is a blockchain infrastructure designed on the same technical basis as the Hong Kong government’s digital green bond, which is symbolic in that domestic financial companies preemptively introduced global-level digital financial standards.

Digital bonds are bonds issued and distributed using blockchain and distributed ledger technology (DLT). By automating the entire process from issuance, interest payment, and repayment through distributed ledger technology, the efficiency of the financial system can be dramatically increased and transaction details can be recorded on the blockchain to strengthen transparency. Through this, investors will be provided with a safer and more transparent digital asset investment environment.

This success story means that it has presented a new model of cross-border capital procurement through digital technology beyond simple financing. The elimination of currency exchange costs and settlement time lag through simultaneous procurement of multiple currencies is an example of raising capital efficiency that domestic financial companies can secure on the global stage to the next level.

In particular, the bond issuance is also in line with Mirae Asset 3.0. Mirae Asset Securities plans to build an advanced digital financial ecosystem that encompasses traditional and digital assets to increase access to global superior assets for customers and provide efficient means of financing for companies.

In the future, it plans to strengthen ultra-personalized financial services that combine artificial intelligence (AI) and web3 technologies and introduce various innovative products such as tokenized real assets (RWA).

“The success of issuing digital bonds is an important milestone that showed that Korea’s finance can lead the global digital asset standard,” said an official at Mirae Asset Securities. “We will provide innovative asset formation opportunities for individual investors to institutions through an expanded financial ecosystem, and contribute to Korea’s leap into a global financial hub.”