Mirae Asset Securities’ Hong Kong Subsidiary Issues Dollar Bonds via Its Proprietary Tokenization Platform

[Financial News] Mirae Asset Securities’ Hong Kong subsidiary announced on the 28th that it had completed the issuance of U.S. dollar-denominated digital bonds in Hong Kong through a tokenization platform it built independently. It is the first case of an overseas subsidiary of a Korean financial firm issuing dollar-denominated digital bonds locally using its own technology.
The significance of this issuance lies in securing, through in-house capabilities, the technology needed for its digital asset business. After introducing digital bonds in January based on external technology, the company has now applied its own internally developed system to the actual issuance and operation of bonds.
The total issuance was $12.5 million. The bonds have a six-month maturity and were structured with a floating interest rate. The blockchain infrastructure used included Solana and Ethereum.
A digital bond is a financial product that represents the rights attached to conventional bonds in the form of blockchain-based tokens. Transaction records are easy to verify, and, depending on the system design, interest payments and principal repayments can be automated. This can help improve the efficiency of settlement and operations for financial products.
An official in the financial investment industry said, “The competitiveness of bond tokenization depends not only on experience in issuing bonds, but also on whether settlement and post-issuance management can be carried out reliably,” adding, “Experience applying an in-house system to actual products can provide a foundation for expanding the range of tokenized products in the future.”
A representative of Mirae Asset Securities’ Hong Kong subsidiary said, “We used our own technology and operational capabilities at every stage, from product design and token issuance to settlement and post-issuance management,” adding, “We plan to gradually expand our range of tokenized products, drawing on the experience and network we have built up in overseas markets.”
[email protected] Choi Doo-seon Reporter