HSBC partners with SGX and Temasek digital asset venture, Marketnode

The announcement marks a continuation of HSBC’s ongoing collaboration with SGX and Temasek to explore the use of distributed ledger technology (DLT) and smart contracts in the bond issuance process in Asia.

Priya Kini, Head of Global Banking, HSBC Singapore, said: "Our collaboration with SGX and Temasek since 2020 to streamline the Asian bond market reveals a glimpse of how technology could transform capital markets globally. Realising the full potential of DLT requires deeper industry collaboration, and Singapore's vibrant tech landscape makes it a prime location to accelerate this journey. We are delighted to continue our partnership with Marketnode, bringing HSBC’s international expertise to explore DLT across different asset classes.”

In 2020, SGX, Temasek and HSBC successfully completed Asia’s first digital bond issuance, replicating a S$400 million 5.5-year public bond issue and a follow-on S$100 million tap of the same issue by Olam International.² Since then, HSBC has continued to partner with SGX and Temasek to complete several digital bond issuances on Marketnode’s exchange-operated digital asset issuance platform, including replicating a S$1 billion Perpetual Securities issue by Singtel³ and a S$600m of Perpetual Capital Securities at 2.55% by UOB⁴.