27 September 2021

HSBC partners with SGX and Temasek digital asset venture, Marketnode

HSBC is pleased to welcome a new partnership with Marketnode, a SGX and Temasek digital asset venture. Announced by SGX on 27 September 2021, HSBC will join industry participants to support Marketnode in the buildout of an end-to-end DLT-enabled fixed income infrastructure alongside.1

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.

1 https://www.sgx.com/media-centre
2 https://www.sgx.com/media-centre/20200901-sgx-collaboration-hsbc-and-temasek-completes-pilot-digital-bond-olam
3 https://www.about.hsbc.com.sg/news-and-media/hsbc-marketnode-complete-digital-bond-issuance-with-singtel
4 https://www.uobgroup.com/uobgroup/newsroom/2021/digital-bond-issuance-on-marketnode.page?path=data/uobgroup/2021/167&cr=segment

Note to Editors:

The Hongkong and Shanghai Banking Corporation Limited
The Hongkong and Shanghai Banking Corporation Limited is the founding member of the HSBC Group. HSBC serves customers worldwide from offices in 64 countries and territories in its geographical regions: Europe, Asia, North America, Latin America, and Middle East and North Africa. With assets of $2,976bn at 30 June 2021, HSBC is one of the world's largest banking and financial services organisations.