ADX prepares to list MENA鈥檚 first DLT-based digital bond
04 July 2025 UAE
Image: HSBC
Abu Dhabi 麻豆传媒 Exchange (ADX) is set to list the first distributed ledger technology (DLT)-based digitally native bond in the Middle East and North Africa (MENA), following the start of the pricing stage for the First Abu Dhabi Bank (FAB)-issued instrument.
The bond, which will be available via HSBC Orion, Euroclear, Clearstream and the Central Moneymarkets Unit (CMU) in Hong Kong, represents a significant step in ADX鈥檚 digital asset innovation strategy and Abu Dhabi鈥檚 wider capital market modernisation efforts.
Issued by FAB and structured with the support of leading international law firms, the bond introduces tokenised finance to ADX鈥檚 product suite. It is designed to offer improved efficiency, transparency, and reduced settlement risk for institutional investors by leveraging blockchain-based workflows.
HSBC acted as sole global coordinator, lead manager and bookrunner, playing a central role in bringing the end-to-end blockchain-based issuance to the region. HSBC Orion, the platform underpinning the transaction, is operated by the CMU and provides compatibility with global settlement infrastructure.
Abdulla Salem Alnuaimi, group chief executive officer of ADX, says: 鈥淭he successful issuance of MENA鈥檚 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鈥檚 seamless integration with existing post-trade infrastructure and compatibility with global settlement standards.鈥�
He adds: 鈥淭his initiative not only expands access to institutional-grade digital instruments, but also lays the foundation for a broader class of tokenised assets 鈥� including green bonds, sukuk, and real estate-linked products. It reinforces Abu Dhabi鈥檚 position as a leading global financial centre. It aligns with the UAE鈥檚 national agenda to build a diversified, technology-driven capital market anchored in transparency, resilience, and long-term growth.鈥�
Lars Kramer, group chief financial officer at FAB, says: 鈥淏y transforming traditional settlement processes into seamless digital workflows, we are not only advancing FAB鈥檚 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.鈥�
Mohamed Al Marzooqi, chief executive officer, UAE, HSBC Bank Middle East, says: 鈥淭he successful launch of MENA鈥檚 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鈥檙e helping bolster the region鈥檚 capital markets 鈥� making them more transparent, efficient and accessible to investors.鈥�
The bond, which will be available via HSBC Orion, Euroclear, Clearstream and the Central Moneymarkets Unit (CMU) in Hong Kong, represents a significant step in ADX鈥檚 digital asset innovation strategy and Abu Dhabi鈥檚 wider capital market modernisation efforts.
Issued by FAB and structured with the support of leading international law firms, the bond introduces tokenised finance to ADX鈥檚 product suite. It is designed to offer improved efficiency, transparency, and reduced settlement risk for institutional investors by leveraging blockchain-based workflows.
HSBC acted as sole global coordinator, lead manager and bookrunner, playing a central role in bringing the end-to-end blockchain-based issuance to the region. HSBC Orion, the platform underpinning the transaction, is operated by the CMU and provides compatibility with global settlement infrastructure.
Abdulla Salem Alnuaimi, group chief executive officer of ADX, says: 鈥淭he successful issuance of MENA鈥檚 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鈥檚 seamless integration with existing post-trade infrastructure and compatibility with global settlement standards.鈥�
He adds: 鈥淭his initiative not only expands access to institutional-grade digital instruments, but also lays the foundation for a broader class of tokenised assets 鈥� including green bonds, sukuk, and real estate-linked products. It reinforces Abu Dhabi鈥檚 position as a leading global financial centre. It aligns with the UAE鈥檚 national agenda to build a diversified, technology-driven capital market anchored in transparency, resilience, and long-term growth.鈥�
Lars Kramer, group chief financial officer at FAB, says: 鈥淏y transforming traditional settlement processes into seamless digital workflows, we are not only advancing FAB鈥檚 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.鈥�
Mohamed Al Marzooqi, chief executive officer, UAE, HSBC Bank Middle East, says: 鈥淭he successful launch of MENA鈥檚 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鈥檙e helping bolster the region鈥檚 capital markets 鈥� making them more transparent, efficient and accessible to investors.鈥�
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