HSBC partners with Abu Dhabi bank and exchange to launch the Middle East and North Africa's first tokenized fixed income product
Powered by ChatGPTAccording to FinanceFeeds, the Abu Dhabi Securities Exchange ($ADX) has launched the first digital local currency pricing process in the Middle East and North Africa region issued on Distributed Ledger Technology (DLT). The bond, issued by First Abu Dhabi Bank (FAB), will be listed on the $ADX and launched through HSBC's Orion platform, a blockchain-based digital asset infrastructure operated by the Hong Kong Monetary Authority (CMU). The transaction is the result of a tripartite collaboration between $ADX, HSBC, and FAB, combining local market infrastructure with HSBC's experience in digital issuance. Global investors will be able to access the bond through accounts with CMU, Euroclear, or Clearstream, or through existing custodians. [ChainCatcher]