Shareable Asset has teamed up with Standard Chartered Bank (SCB) to design and implement a prototype to issue and trade green retail bonds in Hong Kong. These bonds will be stored as digital securities on a public permissionless blockchain.
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Shareable Asset has built a platform that follows a bond from its issuance through to maturity. The platform allows issuers to manage allocations and payments to investors. Retail investors interface via a mobile application. To improve liquidity for investors, Shareable Asset is also developing a secondary trading capability for its platform.
Sponsoring this project are the Bank for International Settlements (BIS) Innovation Hub Hong Kong Centre and the Hong Kong Monetary Authority (HKMA). Called “Project Genesis,” the aim is to build a digital infrastructure that can enable green investments and help issuers and governments meet environmental and sustainability goals. Moreover, this project should broaden access to sovereign bonds to a larger share of the public by lowering the minimum amount needed to invest.
Will Lee, Founder and Chairman of Shareable Assets Pte. Ltd. (SAPL), said, “SAPL is excited to partner with SCB and be mandated by BIS to design this prototype. We are pleased to have this explicit approval of our technology and strategy to develop a platform to issue green retail sovereign bonds.“
Michael Chin, CEO, also said, “It has been a pleasure working with Standard Chartered Bank as it understands the needs of the issuer. Together with BIS Innovation Hub, we will explore how we can provide more liquidity in the secondary market.”
In a separate collaboration with SCB, a consortium including Shareable Asset was recently chosen as a finalist for the Monetary Authority of Singapore’s (MAS) global competition to develop retail Central Bank Digital Currency (CBDC) solutions (Global CBDC Challenge). Developing its technology platform to be ready to integrate with CBDCs is an important strategic objective of Shareable Asset.
SOURCE Shareable Asset (press release)
