Hong Kong Government Set to Issue Tokenized Green Bonds

  1. The Hong Kong government is set to issue tokenized green bonds.
  2. SEC is currently working on regulating the asset class in question.
  3. Hong Kong is very interested in seeing Web3 flourish in the region around it.

According to CNL’s recent tweet, the Hong Kong government is likely to issue tokenized green bonds for subscription by institutional investors soon as remarked by the Hong Kong Financial Secretary. 

To unleash the potential of Web 3.0, the government is anticipated to provide the appropriate level of regulation for the market.

The Financial Secretary, Paul Chan said;

“Having considered the rising interest rates in the market, we have decided to increase the minimum interest rate of this retail green bond so as to provide the public with a green investment choice with a steady return,” 

According to Chen Haolian, Deputy Secretary for Financial Affairs and the Treasury, the Securities and Exchange Commission is currently working on regulating the asset class in question. Specifically, it is in the process of deliberating rules for public consultations and exchanges at this time so that it can better inform its decisions.

Experts argue that Web3 is something that Hong Kong is very interested in seeing flourish in the region around it. One startup accelerator stated that it plans to provide support to one thousand web3 startups for their work according to SCMP. Additionally, officials are making a concerted effort to entice businesses and reassert the region’s position as a financial center.

A further noteworthy occurrence is that Animoca Brands is attempting to raise $1 billion for their web3 and metaverse investment fund. This is an exciting new development. Additionally, Justin Sun said that Hong Kong is considered to be China’s “experiment base.”

Read Also :

disclaimer read more

Crypto News Land (cryptonewsland.com) , also abbreviated as “CNL”, is an independent media entity — we are not affiliated with any company in the blockchain and cryptocurrency industry. We aim to provide fresh and relevant content that will help build up the crypto space since we believe in its potential to impact the world for the better. All of our news sources are credible and accurate as we know it, although we do not make any warranty as to the validity of their statements as well as their motive behind it. While we make sure to double-check the veracity of information from our sources, we do not make any assurances as to the timeliness and completeness of any information in our website as provided by our sources. Moreover, we disclaim any information on our website as investment or financial advice. We encourage all visitors to do your own research and consult with an expert in the relevant subject before making any investment or trading decision.

Godfrey Mwirigi is an enthusiastic crypto writer with an interest in Bitcoin, blockchain, and technical analysis. With a focus on daily market analysis, his research helps traders and investors alike. His particular interest in digital wallets and blockchain aids his audience in their day-to-day endeavors.

programmer & freelance writer