Hong Kong Monetary Authority: Studying the feasibility of issuing tokenized green bonds through the government green bond program

On November 3, during the “Hong Kong Financial Technology Week 2021” event, the Hong Kong Monetary Authority (hereinafter referred to as the “Hong Kong Monetary Authority”) announced two new measures to further strengthen Hong Kong’s financial technology power.

One of them is the tokenization of green bonds. The Hong Kong Monetary Authority stated that it has completed Project Genesis with the Hong Kong Center under the Innovation Hub of the Bank for International Settlements (BISIH). One result is the completion of the concept certification for the issuance of tokenized green bonds to retail investors in Hong Kong. The Hong Kong Monetary Authority stated that it will further study the feasibility of issuing tokenized green bonds through the government’s green bond program on a trial basis.

The other is the Anti-Money Laundering Compliance Technology Laboratory (hereinafter referred to as “AMLab”). The Hong Kong Monetary Authority announced that it will launch the AMLab series in cooperation with Cyberport on November 5, pushing the application of compliant technology into a new stage.

The Hong Kong Monetary Authority stated that it is actively implementing a number of initiatives on data, cross-border financial technology cooperation, talent development, and central bank digital currency under the “FinTech 2025” strategy, and progress is good.

Among them, regarding cross-border financial technology cooperation, the People’s Bank of China’s financial technology innovation supervision tool and the Hong Kong Monetary Authority’s financial technology supervision sandbox will be connected online. Within a week after the announcement, about ten Hong Kong banks have expressed interest in testing their cross-border financial technology projects in Hong Kong and the Mainland Greater Bay Area cities through networking . About half of the projects are related to “Cross-border Financial Link”, or It can be applied to the scenario of “cross-border financial management”.

Regarding the central bank digital currency, the Hong Kong Monetary Authority of China, the Central Bank of Thailand, the Central Bank of the United Arab Emirates, and the People’s Bank of China Digital Currency Research Project jointly initiated the multilateral central bank digital currency bridge research project to release a use case manual. A total of 15 potential application scenarios of currency bridges including international trade settlement, cross-border e-commerce, and supply chain finance were displayed.

The Hong Kong Monetary Authority stated that one of the scenarios selected trade settlement transactions across four places and 11 different industries as samples, and launched a test on the platform. It is expected to enter the pilot phase in 2022. The goal is to develop a model that can support the entire international trade settlement. Process system.

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