Abu Dhabi's ADX lists first blockchain bond in MENA region
First Abu Dhabi Bank (FAB) issued the bond using HSBC Orion, a digital assets platform operated by the Central Moneymarkets Unit in Hong Kong.
ADX, FAB, HSBC pioneer blockchain bond
The bond listing represents a collaboration between ADX, HSBC, and FAB, combining regional financial leadership with global expertise in digital issuance.
'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,' Abdulla Salem Alnuaimi, Group Chief Executive Officer of ADX said.
'This initiative not only expands access to institutional-grade digital instruments, but also lays the foundation for a broader class of tokenised assets—including green bonds, sukuk, and real estate-linked products. It reinforces Abu Dhabi's position as a leading global financial centre. It aligns with the UAE's national agenda to build a diversified, technology-driven capital market anchored in transparency, resilience, and long-term growth,' he added.
The transaction received support from international law firms and reflects high standards of governance.
Global investors can access the digital bond through accounts held with CMU, Euroclear and Clearstream, by onboarding onto HSBC Orion as direct participants, or through their existing custodians who can participate via these options.
'This milestone marks a significant advancement in our innovation journey, establishing FAB as the issuer for the first blockchain-based digital bond in the MENA region. Together with ADX and HSBC, we are setting new benchmarks in efficiency, transparency, and security, while aligning with the UAE's progressive regulatory framework. By transforming traditional settlement processes into seamless digital workflows, we are not only advancing FAB's digital transformation but also supporting investors navigate the global digital assets landscape. This bond issuance accelerates the development of a robust digital capital markets ecosystem in the UAE,' Lars Kramer, Group Chief Financial Officer at First Abu Dhabi Bank (FAB) explained.
The listing supports ADX's ambition to offer financial instruments and establishes the Exchange's role in introducing tokenised finance.
Digital bonds are fixed-income securities issued and recorded on blockchain technology. They offer operational efficiencies, improved settlement cycles, reduced counterparty risk, improved security and enhanced transparency for institutional investors.
HSBC acted as the sole global coordinator, lead manager and bookrunner on the transaction, bringing the end-to-end blockchain-based issuance to the MENA region.
'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. This is a significant milestone towards a future where digital assets become a mainstream part of the Middle East's financial landscape,' Mohamed Al Marzooqi, Chief Executive Officer, UAE, HSBC Bank Middle East Limited said.
The bond ensures compatibility with global settlement infrastructure, integrating digital technology with existing post-trade infrastructure.
It bridges traditional markets with next-generation issuance models and supports institutional access.
ADX is the largest exchange in the UAE and the second-largest exchange in the MENA region. The listing supports ADX's mission to lead financial innovation and support Abu Dhabi's digital transformation agenda.
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