The Hong Kong Monetary Authority released the report "Tokenization of the Hong Kong Bond Market," exploring the next steps for the application of tokenized bonds

ChainCatcher news, the Hong Kong Monetary Authority (HKMA) today released a report titled "Tokenization of the Hong Kong Bond Market," outlining the next steps for promoting the broader application of tokenization technology in the Hong Kong bond market. The report details the experience of the HKMA in assisting the government with the issuance of HKD 800 million tokenized green bonds under the "Project Evergreen" initiative in February this year, including the specifics of the tokenized green bonds, technology and platform design, as well as trading and settlement.

In addition, the report states that bond tokenization is still in its infancy, and to achieve widespread adoption, multiple challenges must be overcome. Existing legal and regulatory frameworks may also need to be fine-tuned to keep pace with and promote the adoption of the technology.