HONG KONG—Hong Kong’s is planning to launch the world’s first tokenized government green bonds.
The People’s Republic of China’s Special Administrative Region (SAR) of Hong Kong clarified guidelines for the development of the virtual asset industry in the “Policy Declaration on the Development of Virtual Assets in Hong Kong,” according to the Crypto Times.
Several pilot plans were proposed in the document, including the tokenized issuance of a new batch of green bonds for institutional investors. It will be the world’s first tokenized issuance of government green bonds, with a launch date set for the end of the year, The Crypto Times said.
Financial authorities are also interested in utilizing decentralized technology.
“We need to take full advantage of the potential offered by innovative technologies, but we also need to be careful to guard against market volatility and potential risks they may cause, so as to prevent transmission of the risks and impacts to the real economy,” Financial Secretary Paul Chan Mo-Po said, according to Crypto Times.
Additional Research
The report further noted a central bank digital currency that the Hong Kong Monetary Authority is also researching to be the “backbone” and pillar between fiat currencies and virtual assets.
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