HKD / tokenized government debt

HKSAR Government Third Digital Green Bond, HKD tranche

issued by Government of the Hong Kong Special Administrative Region (Government Sustainable Bond Programme). verified

2.50%

published yield

n/d

size

private ledger

can you hold it

The terms

Issuer: Government of the Hong Kong Special Administrative Region (Government Sustainable Bond Programme)
Jurisdiction: Hong Kong SAR
Chains: HSBC Orion (private permissioned DLT)
Contracts: No contract address could be established from public sources. That is a disclosure gap on the issuer, and it is recorded as one.
Yield basis: Coupon / re-offer yield on a 2-year digitally native bond source
Size: Not disclosed on any source we could read. source
Minimum: Institutional bond-market minimum denominations; not disclosed in the press release
Who may hold it: Institutional investors, asset managers, banks, insurance companies, private banks. Distribution restricted in the US, Canada, Australia and Japan. source
Redemption: Bullet maturity at 2 years; settled through the HKMA's Central Moneymarkets Unit (CMU) on a T+1 cycle source
Cost to enter: Standard institutional bond dealing; no fee disclosed
Transferability: Permissioned. Transfers only between allowlisted wallets. It also settles only on a private permissioned ledger, with no public-chain representation.
Secondary liquidity: None. Issued on HSBC Orion, a private permissioned platform, and settled via CMU. Not accessible from any public chain.

What we think you should know

Face amount HK$2.5 billion of a roughly HK$10bn-equivalent four-currency offering priced 11 Nov 2025. I have deliberately left aum_usd null rather than convert HK$2.5bn at the peg, the conversion would be mine, not the source's. This is a genuinely digitally native (not merely digitised) sovereign green bond, the third in the HKSAR series, and the world's first digital bond offering to integrate tokenised central bank money (e-CNY and e-HKD) into settlement. All tranches carry ISO 24165 Digital Token Identifiers. A real allocator CAN buy this, but only as an institution through the normal syndicate/CMU channel, there is no public-chain representation.

Sources

Other HKD instruments

Instrument	Ccy	Type	Yield	Size	Access	Confidence
ChinaAMC HKD Digital Money Market Fund (Tokenised Class) CAMMF	HKD	tokenized money market fund	2.30%	$97.68M	allowlist + KYC	verified
Bosera HKD Money Market ETF (Tokenised Class)	HKD	tokenized money market fund	not published	n/d	not established	verified