June 22, 2024

ADX And HSBC Teams Up For Developing Digital Assets

Facebook
Twitter
LinkedIn
Abu Dhabi Securities Exchange and HSBC Bank Middle East Limited (HSBC) teams up for the development of digital fixed-income securities
Digital Financial Securities-Image By Freepik

Abu Dhabi Securities Exchange (ADX) and HSBC Bank Middle East Limited (HSBC) are working together in the first regional collaboration of its kind to develop digital fixed-income securities. This partnership paves the way for the introduction of a broader array of capital market use cases in the Middle East.

Abdulla Salem Alnuaimi, Chief Executive Officer of ADX

Abdulla Salem Alnuaimi, Chief Executive Officer of ADX, stated: “We are delighted to collaborate with HSBC, one of the world’s leading banks, in developing a digital fixed-income product. We believe that digital assets will grow in significance in the future and ADX intends to be at the forefront of this innovation.”

Mr. Alnuaimi added “The project reaffirms our commitment to ADX’s digital transformation journey and complements our efforts to continue providing innovative products to our expanding investor base. ADX and HSBC will explore a framework that enables digital assets, such as digital bonds, to be made available on HSBC Orion, the bank’s digital assets platform, and to be listed on ADX.”

Mohamed Al Marzouqi, Chief Executive Officer, UAE, HSBC

Mohamed Al Marzouqi, Chief Executive Officer, UAE, HSBC, stated: “HSBC is digitizing at scale by adopting new technologies like blockchain to enable the issuance of digital assets, hold them in custody, and make them available for trading.”

Mr. Marzouqi added “This capability will help accelerate efficiency and drive new and innovative opportunities for investors. HSBC and ADX are working together to leverage HSBC Orion, our proprietary digital assets platform, and use our collective capabilities in capital markets and custody, to bring this exciting development to the market.”

Industry sources added that this initiative leverages the investment product knowledge of ADX, the fastest-growing Middle Eastern exchange, and HSBC’s world-class investment banking, capital markets and blockchain capabilities.

Digital bonds are financial instruments that are created and managed using blockchain and smart contract technology to create efficiencies in capital markets. With the use of blockchain technology, a broader range of assets such as equity, fixed income, real estate, and private equity can be tokenized.

This will enable ownership of these assets for a broader range of investors, making securities markets more accessible.

Source

Share.

RELATED POSTS

Sharjah Chamber, Emirates Development Bank discuss financial solutions for industrial investors
SCCI, Emirates Development Bank collaborate for financial solutions
ADX and Mashreq Signing Ceremony.
ADX, Mashreq to offer instant trading access to clients
HyperPay mobile phone application.
HyperPay enables mada Apple Pay Recurring services
  • Tamkeen Insurance banner
  • International Assurance

LATEST POSTS

Sprhava 887x444
Schneider Electric And Aveva Forges Partnership With IN-CORE Systèmes To Boost EV Battery Production Process
Aditum and Standard Chartered partner on first-of-its-kind fund structure wherein Ten funds approved; four already funded
Azizi Developments And Xylem Partnership For Riviera, Vista And Beach Oasis with the most technologically advanced, high-quality transfer-, booster-, and chilled-water pumps and sump pumps