DACC and Hong Kong Economic Council Unveil Tokenised Bond Whitepaper
The latest incremental step in Hong Kong’s ambitions to lead Asia’s tokenised securities market arrived this week with a whitepaper focused on the nuts and bolts of tokenised bonds.
➤ Hong Kong's Digital Asset Clearing Center (DACC) and the Hong Kong Economic Council have released a whitepaper detailing the infrastructure for tokenized bonds, aiming to establish Hong Kong as a leader in Asia's tokenized securities market. ➤ The whitepaper focuses on crucial post-issuance elements like settlement finality and delivery-versus-payment, which are essential for institutional adoption and creating a liquid secondary market for tokenized debt. ➤ While Hong Kong's regulatory clarity and structured sandbox approach offer an advantage over other jurisdictions like the US, the whitepaper leaves key questions unanswered regarding the clearing model and timeline for market implementation.