The Hong Kong government plans to issue digital green bonds denominated in US dollars, Hong Kong dollars, euros, and renminbi, with the earliest pricing. This will be the third issuance of digital bonds by the Hong Kong government since 2023, with the previous two issuances totaling HKD 6.8 billion.

S&P Global Ratings and Fitch Ratings have respectively assigned “AA+” and “AA-” ratings to the proposed digital bonds in various currencies, consistent with their long-term foreign currency and local currency issuer ratings for Hong Kong. According to reports, the digital bonds can be issued through a Distributed Ledger Technology (DLT) platform, and can also be issued on public chains like Ethereum, which may offer greater flexibility. Compared to traditional bonds, digital bonds may not only have shorter settlement times and lower costs but also leverage the growing appeal of blockchain-based securities to accelerate scaling.