Hong Kong Issues Record $2.6 Billion Digital Green Bond

The Government of the Hong Kong Special Administrative Region of the People’s Republic of China (HKSAR) announced the pricing of approximately HK$20 billion (USD$2.6 billion) of digital green bonds, setting a new record for the largest-ever digital bond issuance in the world to date.

A digital green bond, or a tokenized green bond, is a green bond that is represented on a blockchain network. Investors trade the bonds on the blockchain-based exchange and principal and interest are paid on the blockchain. Digital bonds offer benefits including increased transparency and traceability, as well as faster transactions and settlements.

The offering included four tranches, denominated in currencies including HK dollars, Renminbi, US dollars, and euro.

According to the HKSAR Government, demand for the bonds was strong, with subscription ratios across the four currencies reaching 1.3 to 11.3 times.

The offering marks the fourth in a series of digital green bond issuances by the HKSAR Government, following an initial HK$800 million tokenized green bond issuance in early 2023, a second HK$6 billion issuance in 2024, and a third HK$10 billion issuance in November 2025.

The government highlighted an innovative feature of the fourth offering, under which tokenised deposits were incorporated into the primary issuance settlement process for the HKD tranche.

Mr Eddie Yue, the Chief Executive of the Hong Kong Monetary Authority, said:

“This fourth issuance reinforces our commitment to stay ahead in the digital finance space, continues to unlock new synergies across digital infrastructures, and deepens our digital asset ecosystem.”