Ashurst Advises HSBC on HK$10 Billion Digitally Native Hong Kong Government Bond Using Digital Money

Global law firm Ashurst advised The Hongkong and Shanghai Banking Corporation Limited (HSBC) in its capacity as platform counsel, assisting HSBC in connection with the Hong Kong Government’s issuance of a digitally native bond. The transaction involved the issuance of a HK$10 billion, Hong Kong law governed, digitally native bond by the Hong Kong Government. The bond was issued on HSBC’s digital assets platform, Orion, and represents the first offering on Orion to incorporate the use of digital money in the allocation phase of the issuance process. Ashurst’s finance regulatory and capital markets team advised on the issuance, addressing considerations arising from the application of digital money and how it integrates with established regulatory frameworks. The transaction builds on the firm’s earlier roles in the world’s first government-backed tokenised green bond in 2023 and the inaugural multi-currency, digitally native bond offering in 2024, reinforcing its track record on first-of-a-kind transactions that bridge innovative technology and market standards. Ashurst represented The Hongkong and Shanghai Banking Corporation Limited (HSBC) with a team composed by: Ben Hammond, partner and Hong Kong office managing partner, and Janet Ouyang, Anna He and Anson Chan, members of the firm’s finance regulatory and capital markets team.

Ashurst Advises HSBC on HK$10 Billion Digitally Native Hong Kong Government Bond Using Digital Money

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