HSBC Orion to launch MENA’s first digitally native bond with ADX and FAB

HSBC has teamed up with ADX and FAB to introduce the MENA region’s first digitally native bond on blockchain, adding to HSBC’s growing portfolio of digital bond issuances on its Orion platform.

HSBC has partnered with Abu Dhabi Securities Exchange and First Abu Dhabi Bank to launch the MENA region’s first digitally native bond using distributed ledger technology. As reported by Middle East Economy, ADX has already commenced the pricing process for the product.

Issued by FAB, the bond will be launched through HSBC’s Orion platform — a blockchain-based digital asset infrastructure. Orion is operated via the Central Moneymarkets Unit in Hong Kong and also runs in Luxembourg, but this issuance will use the Hong Kong platform due to its integration with Euroclear and Clearstream, allowing seamless access for global investors.

The current collaboration with ADX and FAB marks Orion’s first entry into the Middle East. However, it’s not the first digital bond launched through the platform. Orion has previously supported the launch of a digital treasury note from Luxembourg as well as a €100 million digital bond issued by the European Investment Bank, settled via a wholesale central bank digital currency.

In addition, Orion supported HKMA’s groundbreaking multi-currency green bond issuance in February last year, where the Hong Kong government issued a HKD 6 billion‑equivalent digital bond across HKD, CNH, USD, and EUR. This issuance, settled using atomic delivery‑versus‑payment, cut settlement times from T+5 to T+1 and opened access to over 50 global investors.
Apart from bonds, the platform has also been used to launch tokenized gold for retail investors.