Mirae Asset Securities Hong Kong issued $12.5 million in US dollar-denominated digital bonds on May 28 using a proprietary tokenization system developed in-house. The issuance marks the first time an overseas branch of a Korean financial firm has issued digital bonds using self-developed technology. The move represents a strategic shift toward technology internalization, as the company's previous digital bond issuance in January relied on HSBC's Orion tokenization platform.
Mirae Asset Hong Kong Issues $12.5M Digital Bonds on Solana and Ethereum
The digital bonds are 6-month floating rate instruments issued in US dollars. The issuance utilized both Solana and Ethereum blockchain networks. Mirae Asset Securities announced the issuance on May 28, confirming it as the first such transaction by an overseas branch of a domestic Korean financial institution.
Digital bonds represent bond rights as digital tokens on blockchain infrastructure. The technology enables transparent recording and verification of transaction history, while automating interest payments and maturity redemptions to improve settlement and management efficiency.
In-House Technology Powers Full Issuance Process
The core aspect of this issuance is technology internalization. Mirae Asset Securities Hong Kong applied proprietary technology and operational capabilities across the entire process, from product planning through token issuance, settlement, and post-issuance management. The Hong Kong branch developed the tokenization system independently, eliminating reliance on third-party platforms.
A Mirae Asset Securities Hong Kong official stated that the issuance is significant because the company applied its own technology and operational capabilities across all stages, from product planning to token issuance, settlement, and post-issuance management.
Previous Issuance Used HSBC Platform
Mirae Asset Securities previously issued digital bonds worth 100 billion won in January, marking the first such issuance in South Korea. That transaction utilized HSBC's proprietary tokenization platform Orion. The current Hong Kong issuance represents a departure from that structure, with the Hong Kong branch building and operating the system directly.
The company stated it will gradually expand tokenized products based on experience and networks accumulated in global markets.
FAQ
What did Mirae Asset Securities Hong Kong do on May 28?
Mirae Asset Securities Hong Kong issued $12.5 million in US dollar-denominated digital bonds on May 28 using a proprietary tokenization system. The 6-month floating rate bonds were issued on Solana and Ethereum blockchain networks, marking the first digital bond issuance by an overseas branch of a Korean financial firm using self-developed technology.
How does this issuance differ from Mirae Asset's previous digital bond issuance?
Mirae Asset Securities' previous digital bond issuance in January, worth 100 billion won, used HSBC's Orion tokenization platform. The current Hong Kong issuance uses an in-house developed tokenization system, with the Hong Kong branch handling the entire process from product planning through token issuance, settlement, and post-issuance management using proprietary technology.
