Latest news with #DLT
Yahoo
16-07-2025
- Business
- Yahoo
UK Commits to Enabling DLT, Tokenization Work in its Wholesale Strategy
The U.K. government on Tuesday said it intends to enable the wholesale market to identify the best distributed ledger technology (DLT) use cases as well as roll out tokenization solutions. The country wants DLT - the blockchain technology that underpins crypto - to be utilized across different sectors in wholesale financial markets and create cross market groups "to take forward live activity," the country's Treasury said in a policy paper. A part of the plan includes creating a regulatory framework for crypto technology, something which is already underway as the nation sets out to be a crypto hub. The U.K. published draft legislation for the stablecoin issuers and exchanges in April. "For instance, on digital wholesale payments the government and regulators are open to proposals that innovate on existing forms of payment, such as tokenised deposits, and also new innovations such as stablecoins," said Treasury. The government wants to enable the sector to test solutions that tokenize financial assets and help digitize post trade processes. Worldwide, RWA tokenization has grown by 380% in just three years and reached $24 billion this month, according to a first-half 2025 report from RedStone, Gauntlet and U.K. regulators will also test using stablecoins - digital tokens pegged to assets - alongside other payment solutions in the new digital securities sandbox.
Finextra
15-07-2025
- Business
- Finextra
UK updates on Digital Gilt Instrument pilot
In March 2025 the government announced the start of its procurement process for the Digital Gilt Instrument (DIGIT) Pilot. This first stage of the procurement process was the Preliminary Market Engagement Notice (PMEN), which sought views from potential suppliers and the wider financial services sector on the delivery of DIGIT. 0 This content is provided by an external author without editing by Finextra. It expresses the views and opinions of the author. This process closed in April, and the government has been carefully reviewing responses to inform its next steps. As was set out in the PMEN, the pilot aims to: enable the government to explore how distributed ledger technology (DLT) can be applied across the lifecycle of the UK sovereign debt issuance process. catalyse the development of UK based DLT infrastructure and the adoption of DLT in UK financial markets. The PMEN outlined an initial set of design decisions that had been taken to meet these aims, including that DIGIT will be digitally native, short-dated, issued on a platform operating within the Digital Securities Sandbox (DSS) and that the issuance will be separate from the government's debt issuance programme. Taking into account feedback from the PMEN responses, the government can today announce a further set of features that aim to be tested as part of the pilot: Delivering on-chain settlement. In line with the objective to test the full lifecycle of the UK sovereign debt issuance process, the government will prioritise solutions that allow DIGIT to be settled on DLT. This includes the cash leg of DIGIT transactions. Enabling settlement of over-the-counter trades. The ability to trade DIGIT between counterparties on a DLT platform is important for establishing an active market. This includes testing functionality of DLT compared to standard fixed income markets, such as the role smart contracts can play in over-the-counter trades. Supporting interoperability. Responses highlighted that a key barrier to adoption of DLT is that it could lead to a fragmented market. The government will look to work with industry, platform providers and existing market infrastructure providers to foster interoperability in supporting access to DIGIT from investors operating in both traditional and DLT markets. Deliver greater transparency. DLT platforms have the capability to provide greater visibility of securities ownership and other potential benefits. This is an important area where DLT can go beyond what is possible on existing infrastructure making it important to test how these benefits can be realised. The government also wants to work with the financial services sector to encourage ongoing development of additional DIGIT features and functionality. This includes supporting solutions that enable collateral mobility; examining the case for listings on DLT; and the development of secondary markets. It is the government's intention to engage with the Digital Markets Champion, a new role being created under the Wholesale Financial Markets Digital Strategy being published today, to develop a cross-sectoral strategy for delivering these features.[footnote 1] The government will appoint industry leads to these roles this Autumn. The government intends to set out further details on the pilot as a part of the next phase of the procurement process which will be published over the summer with a view to appointing suppliers later this year.
Fintech News ME
09-07-2025
- Business
- Fintech News ME
Abu Dhabi Securities Exchange, HSBC, FAB Begin Pricing for MENA's First Blockchain Bond
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.
Bangkok Post
08-07-2025
- Automotive
- Bangkok Post
How can foreigners get a driver's licence in Thailand?
Foreign nationals residing or working in Thailand can legally obtain a driver's licence, depending on their visa and the type of licence they require. There are two main options available: 1. Use an International Driving Permit (IDP) Foreigners holding an International Driving Permit (IDP) can legally drive in Thailand as long as they carry it with their valid driver's licence from their home country. 2. Apply for a Thai Driving Licence This option is ideal for those staying long-term in Thailand on a work visa or with permanent residence. The requirements: 2.1 Minimum age: 18 years old. 2.2 Must be in good physical condition (eg, not colour blind, not hearing impaired). Required Documents: Passport with a valid Non-Immigrant Visa issued no more than one year prior to the application date and not expired. Certificate of Residence in Thailand, issued by the Immigration Bureau or your home country's embassy. Medical certificate no more than a month old confirming no serious illnesses affecting driving; available from most hospitals or clinics. Two passport-sized photos, no spectacles or hat, some transport department offices offer on-site photo services. How to apply: Foreign applicants can download the DLT Smart Queue mobile application to register and select the Foreigner option to begin the process. If you already hold a valid driving licence from another country, you may be eligible for test exemptions, such as skipping the written exam or driving test — depending on the country of origin and document verification.
Al Bawaba
04-07-2025
- Business
- Al Bawaba
Abu Dhabi Securities Exchange (ADX) partners with HSBC and FAB to launch MENA's First Digital Bond
Abu Dhabi Securities Exchange (ADX), the largest exchange in the UAE and second largest exchange in the Middle East North Africa (MENA), has announced the commencement of the pricing stage as the initial step toward listing the first-ever, distributed ledger technology (DLT)-based bond in the region. Issued by First Abu Dhabi Bank (FAB) using HSBC Orion , a market-leading digital assets platform, the upcoming bond listing represents a landmark step in ADX's mission to lead financial innovation and support Abu Dhabi's digital transformation upcoming listing is the result of strategic collaboration between ADX, HSBC, and FAB, combining regional financial leadership with global expertise in digital issuance. It is powered by HSBC Orion, which is operated by the Central Moneymarkets Unit (CMU) in Hong Kong, and structured with support from leading international law firms, reflecting the high standard of investors can access the digital bond through accounts held with CMU, Euroclear and Clearstream, onboarding onto HSBC Orion as direct participant, or via their existing custodian who can participate through one of the above options. Introducing the digital bond into ADX's growing list of financial products supports its broader ambition to offer innovative financial instruments and signifies the Exchange's pioneering role in introducing tokenised bonds, fixed-income securities issued and recorded on blockchain technology, offer operational efficiencies, improved settlement cycles, reduced counterparty risk, improved security and enhanced transparency for institutional acted as the sole global coordinator, lead manager and bookrunner on the transaction, and played a central role in bringing the end-to-end blockchain-based issuance to the MENA region. Abdulla Salem Alnuaimi, Group Chief Executive Officer of ADX, said: '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.'ADX Group CEO added: 'This initiative not only expands access to institutional-grade digital instruments, but also lays the foundation for a broader class of tokenized 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.'Lars Kramer, Group Chief Financial Officer at First Abu Dhabi Bank (FAB), said: '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.'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. This is a significant milestone towards a future where digital assets become a mainstream part of the Middle East's financial landscape.' Designed to ensure compatibility with global settlement infrastructure, the bond integrates digital technology with existing post-trade infrastructure, bridging traditional markets with next-generation issuance models and supporting institutional access.
