Hong Kong released green bonds worth $100M
As per the declaration, the Hong Kong government utilised GS DAP, a tokenisation protocol developed by Goldman Sachs, for the bonds
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On February 16, the Hong Kong government declared that it had released green bonds worth 800 million Hong Kong dollars, which is approximately $100 million.
The bonds were tokenised and issued as part of the Green Bond Programme. Four banks underwrote the bonds, and they were priced at a yield of 4.05 percent.
As per the declaration, the Hong Kong government utilised GS DAP, a tokenisation protocol developed by Goldman Sachs, for the bonds.
GS DAP works on a private blockchain network to settle security tokens representing beneficial interests in bonds in a T+1 payment-vs-payment process. It also uses cash tokens that represent claims on the Hong Kong dollar.
Tokenisation is a recent idea in the financial industry that involves converting assets or securities into digital tokens. The use of blockchain technology for creating digital tokens allows issuers to offer more efficiency, accessibility, and transparency in the issuance and trading of securities.
