Hong Kong Mortgage Corporation Launches Historic HK$12 Billion Inaugural Public Digital Bond Issuance, Setting Global Benchmark

HKMC's HK$12 billion inaugural public digital bond issuance

The following is issued on behalf of the Hong Kong Monetary Authority:

The Hong Kong Mortgage Corporation Limited (HKMC) today (June 11) announced the successful pricing of its inaugural digital bonds totalling approximately HK$12 billion equivalent (Issuance) under its US$30 billion Medium Term Note Programme. Following a series of effective pre-marketing exercises and investor roadshows, the bonds were successfully book-built and priced in Hong Kong on June 10, 2026.

This landmark transaction marks the largest-ever digital bond issuance globally to date, underscoring the deep market liquidity and accelerating adoption by institutional investors. With the Issuance, the HKMC also becomes the first public sector entity in Hong Kong to issue digital bonds. In addition, the 5-year Hong Kong dollar (HKD) tranche represents the longest tenor ever for an HKD-denominated digital bond, setting a new benchmark in the HKD bond market.

The triple-tranche digital bond issuance comprises HK$6 billion 2-year, HK$2.5 billion 5-year and CNH 3 billon 3-year digital bonds. Building on the successful digital bond issuance mechanism adopted by the Government of the Hong Kong Special Administrative Region (HKSAR Government), the Issuance was well received by a diverse group of high-quality institutional investors. These included local, Southbound Bond Connect and international institutional investors, spanning multilateral development bank, central bank, banks, private banks, insurance and asset management companies. The Issuance attracted a combined peak orderbook of around HK$24 billion equivalent from more than 100 accounts.

The digital bonds are digitally created on a distributed ledger technology platform operated by the Central Moneymarkets Unit (CMU), which also serves as the clearing and settlement system for the digital bonds.

The Issuance marks a significant milestone on the HKMC's digital finance journey. Key features include issuing the bonds in a digitally native format for greater operational efficiency, providing investors the option to access via the existing CMU infrastructure and linkage to Euroclear and Clearstream, and successfully shortening the settlement cycle from five business days to three business days.

Deputy Chief Executive of the Hong Kong Monetary Authority and Executive Director of the HKMC Mr Howard Lee said, "By launching tokenised fixed income products and driving market innovation, the HKMC demonstrates its unwavering support for the HKSAR Government's strategic roadmap to cement Hong Kong's position as a global fixed income and currency hub. This landmark digital bond issuance helps deepen Hong Kong's digital asset ecosystem and accelerate the adoption of tokenisation technology in the fixed income market, inspiring a wider range of issuers, investors, intermediaries and other industry stakeholders to embrace this innovative financial instrument."

Executive Director and the Chief Executive Officer of the HKMC, Mr Colin Pou, said, "Through our effective pre-marketing exercises and roadshows to the investing community, the inaugural digital bonds issued by the HKMC were priced amidst strong market reception. This milestone highlights the growing participation from arranging banks and first-time digital bond investors. It reinforces Hong Kong's distinctive role in bridging traditional finance with the digital asset era. Moving forward, the HKMC will continue to leverage its strengths to further develop the local bond market."

The HKMC highly appreciates the professional advice and tremendous support from the Joint Global Coordinators, Joint Bookrunners, and Joint Lead Managers which comprised a total of 16 local and international financial institutions, in making a success of the Issuance. The full list of participating financial institutions is set out at the Annex.

Source: AI-found images

LCSD introduces enhanced identity authentication measures to further combat touting activities

The Leisure and Cultural Services Department (LCSD) announced today (June 11) a new measure to enhance the authentication of the identity of hirers of leisure and sports facilities/venues, aiming to further combat unauthorised transfer of bookings of these facilities/venues (commonly referred to as touting activities).

Under the new measure, with effect from July 7, 2026, SmartPLAY users who log into the My SmartPLAY mobile app via "iAM Smart" will have priority in booking facilities available within seven days from 7am each day. SmartPLAY users not intending to use "iAM Smart" can continue to log into the My SmartPLAY mobile app, the official SmartPLAY website, smart self-service stations or service counters at various leisure venues to make bookings from 7.15am each day. The new measure leverages the authentication function of "iAM Smart" to strengthen the verification of the identity of hirers of leisure and sports facilities/venues. As the period from 7am to 7.15am is the peak booking time of ordinary users and also the most active booking time of "touters" using computer programmes or automated tools, implementing the new measure in this period will more effectively prevent touting activities.

As "iAM Smart" is for use by persons aged 11 or above, SmartPLAY users aged under 11 can continue to make bookings through the My SmartPLAY mobile app from 7am each day.

For the above new measure, the LCSD strongly encourages SmartPLAY users aged 11 or above to register as "iAM Smart" users for making priority bookings of leisure and sports facilities/venues from 7am each day. Members of the public may visit the "iAM Smart" website (www.iamsmart.gov.hk/en/reg.html) to understand how to register as "iAM Smart" users. In addition, the Digital Policy Office will set up mobile service counters at the LCSD's leisure venues from June 14 to August 9 to assist members of the public in registering as "iAM Smart" users. Details are set out in the Annex. For details of the identity authentication of "SmartPLAY" users via "iAM Smart", please visit the "News" (www.smartplay.lcsd.gov.hk/website/en/news.html) and "Tutorial Video" (www.smartplay.lcsd.gov.hk/website/en/video/tutorial.html) sections on the official SmartPLAY website, or call the enquiry hotline at 3954 5150.

For implementing the above new measure, the LCSD will temporarily suspend the services of the My SmartPLAY mobile app and the official SmartPLAY website from 10.30am to 1.30pm on June 22 (Monday) for conducting a system upgrade. Users who plan to access the system during the said period are advised to do so before or after that period. Alternatively, users may access the SmartPLAY system by using the smart self-service stations or service counters at various leisure venues in person.

The LCSD once again reminds SmartPLAY users not to permit any third party to use their "iAM Smart" accounts, and not to provide their account information to "touters" for making bookings. Any users who have ever used touting services or provided their account information to others should change their passwords as soon as possible. The LCSD will continue to strictly enforce the Conditions of Use of SmartPLAY. For any users breaching the conditions concerned by using computer programmes or automated tools to make bookings or interfere with the normal operation of the system, regardless of whether they have logged into the SmartPLAY system via "iAM Smart" and whether any booking or transaction has been made, the LCSD will suspend their accounts for 360 days without giving any prior notice.

Source: AI-found images