The Abu Dhabi Securities Exchange (ADX) has initiated the pricing stage for what will be the region’s first bond issued using distributed ledger technology (DLT).
The bond, issued by First Abu Dhabi Bank (FAB) via HSBC Orion, a digital assets platform operated by Hong Kong’s Central Moneymarkets Unit (CMU), marks a notable development in ADX’s efforts to support financial innovation and the UAE’s digital economy agenda.
The listing is the result of a collaboration between ADX, FAB, and HSBC, combining regional financial institutions with international digital issuance expertise.
The structure of the bond has been supported by major international law firms to ensure compliance with global governance standards.
Institutional investors will be able to access the digital bond through accounts held with CMU, Euroclear, or Clearstream.
Participation is available either as a direct HSBC Orion participant or through custodians connected to these platforms.
Digital bonds, or fixed-income instruments recorded on blockchain, are intended to enhance efficiency, shorten settlement cycles, reduce counterparty risks, and improve transparency and security.
Their introduction on ADX is part of a broader strategy to diversify financial offerings and integrate tokenised finance into the capital markets.
HSBC acted as the sole global coordinator, lead manager, and bookrunner for the transaction, playing a key role in bringing blockchain-based issuance to the region.
Abdulla Salem Alnuaimi, Chief Executive Officer of ADX, stated:
“The successful issuance of MENA’s first blockchain-based digital bond, in close collaboration with FAB and HSBC, marks a defining moment in our journey to transform capital markets through innovation. ADX was central in facilitating this milestone, ensuring the bond’s seamless integration with existing post-trade infrastructure and compatibility with global settlement standards.”
Mohamed Al Marzooqi, Chief Executive Officer, UAE, HSBC Bank Middle East Limited, said:
“The successful launch of MENA’s first digital bond on ADX using HSBC Orion shows how we are transforming the promise of tokenisation into reality for our region. By combining our global experience with trusted local partners, ADX and FAB, we’re helping bolster the region’s capital markets, making them more transparent, efficient and accessible to investors.”
Designed to be compatible with global settlement infrastructure, the bond aims to bridge traditional financial markets with digital issuance models, supporting broader institutional access to digital securities.
Featured image credit: HSBC
