Hong Kong Monetary Authority officially launched the 'Digital Bond Grant Scheme (DBGS)' on November 28, aimed at promoting the development of the digital securities market and encouraging wider use of tokenization technology in the capital market. What are the funding amounts and application requirements? (Background: Hong Kong announces the issuance of digital green bonds again: cooperation with HSBC, UBS, Bank of China... exploring the potential of Blockchain) (Additional information: Hong Kong Monetary Authority launches 'Stablecoin Sandbox', what are the regulatory conditions for issuing digital Hong Kong dollars?) The Hong Kong Monetary Authority announced on November 28 that the DBGS has officially opened for applications, initially planned for a period of three years. If the relevant eligibility requirements of DBGS are met, each digital bond issued in Hong Kong may receive up to 2.5 million Hong Kong dollars in funding. Details of the Hong Kong Digital Bond Grant Scheme: 1. Funding Amounts The HKMA explains that the funding amounts under the Digital Bond Grant Scheme can be divided into: If the basic requirements are met, a grant of 1.25 million Hong Kong dollars (half grant) can be obtained. If both the basic and additional requirements are met, a grant of 2.5 million Hong Kong dollars (full grant) can be obtained. Each issuer, including its affiliates, can receive up to two grants under the DBGS. 2. Basic Requirements To qualify for the DBGS funding, the digital bonds issued must meet the following requirements: At least half or more of the lead underwriters must be recognized in Hong Kong; Additionally, one of the following conditions must be met: the issuing team must have a physical presence in Hong Kong; or the issuance of digital bonds must be carried out on a decentralized ledger technology (DLT) platform operated by the Central Monetary Unit (CMU). 3. Additional Requirements To qualify for full funding, in addition to meeting the basic requirements, the following additional requirements must be met: Digital bonds must be issued on a DLT platform provided by non-issuer affiliates; The issuance size must be at least 1 billion Hong Kong dollars (can be calculated in multiple installments); At the time of issuance, the issuer must provide investment from five or more non-issuer affiliates or DLT platform providers; Must be listed on one of the Hong Kong Stock Exchange (SEHK), the Securities and Futures Commission (SFC), or licensed Virtual Asset Trading Platforms (VATPs). 4. Eligible Expenses for Compensation Additionally, the HKMA states that the following expenses incurred by the issuer during the qualified issuance process can be compensated if they meet the subsidy requirements: Fees paid to the DLT platform provider, excluding fees paid by issuer affiliates; Fees paid to local underwriters in Hong Kong, excluding fees paid by issuer affiliates to underwriters; Fees paid to local legal advisors in Hong Kong; Fees paid to local auditors, accountants, and rating agencies in Hong Kong; Listing fees paid to the Hong Kong Stock Exchange (SEHK), the Securities and Futures Commission (SFC), and licensed Virtual Asset Trading Platforms (VATPs); Accommodation and settlement fees paid to the Central Monetary Unit (CMU). Finally, if the issued digital bonds are also green bonds, social bonds, sustainable development bonds, sustainable development-linked bonds, or transition bonds, and meet the eligibility requirements of the relevant grant programs, the following benefits can be enjoyed: Qualified ordinary bond issuance expenses can be compensated through the DBGS or GSF grant program Track I project, up to 2.5 million Hong Kong dollars, but cannot be applied for simultaneously; External sustainability review fees can be compensated through the GSF grant program Track II project, up to 800,000 Hong Kong dollars, and apply to the total sum of pre-issuance and post-issuance external review fees. Related reports: Hong Kong Monetary Authority's 'Stablecoin Issuers' Sandbox List Released: Animoca joins hands with Standard Chartered Bank, JD Coin Chain Technology, Round Coin Innovation Leading Hong Kong Monetary Authority: Will issue tokenization green bonds again, cross-border CBDC project mBridge will be launched next year USDC issuer Circle plans to enter Hong Kong: waiting for stablecoin regulations to be issued, backed by a large mainland market (Up to 2.5 million Hong Kong dollars in grants! What are the application requirements for the Hong Kong Monetary Authority's 'Digital Bond Grant Scheme DBGS'?) This article was first published on BlockTempo by Motion Zone, the most influential Blockchain news media.
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Maksimum sübvansiyon 2.5 milyon HK$! Hong Kong Para Otoritesi'nin Dijital Tahvil Sübvansiyon Programı DBGS için başvuru koşulları nelerdir?
Hong Kong Monetary Authority officially launched the 'Digital Bond Grant Scheme (DBGS)' on November 28, aimed at promoting the development of the digital securities market and encouraging wider use of tokenization technology in the capital market. What are the funding amounts and application requirements? (Background: Hong Kong announces the issuance of digital green bonds again: cooperation with HSBC, UBS, Bank of China... exploring the potential of Blockchain) (Additional information: Hong Kong Monetary Authority launches 'Stablecoin Sandbox', what are the regulatory conditions for issuing digital Hong Kong dollars?) The Hong Kong Monetary Authority announced on November 28 that the DBGS has officially opened for applications, initially planned for a period of three years. If the relevant eligibility requirements of DBGS are met, each digital bond issued in Hong Kong may receive up to 2.5 million Hong Kong dollars in funding. Details of the Hong Kong Digital Bond Grant Scheme: 1. Funding Amounts The HKMA explains that the funding amounts under the Digital Bond Grant Scheme can be divided into: If the basic requirements are met, a grant of 1.25 million Hong Kong dollars (half grant) can be obtained. If both the basic and additional requirements are met, a grant of 2.5 million Hong Kong dollars (full grant) can be obtained. Each issuer, including its affiliates, can receive up to two grants under the DBGS. 2. Basic Requirements To qualify for the DBGS funding, the digital bonds issued must meet the following requirements: At least half or more of the lead underwriters must be recognized in Hong Kong; Additionally, one of the following conditions must be met: the issuing team must have a physical presence in Hong Kong; or the issuance of digital bonds must be carried out on a decentralized ledger technology (DLT) platform operated by the Central Monetary Unit (CMU). 3. Additional Requirements To qualify for full funding, in addition to meeting the basic requirements, the following additional requirements must be met: Digital bonds must be issued on a DLT platform provided by non-issuer affiliates; The issuance size must be at least 1 billion Hong Kong dollars (can be calculated in multiple installments); At the time of issuance, the issuer must provide investment from five or more non-issuer affiliates or DLT platform providers; Must be listed on one of the Hong Kong Stock Exchange (SEHK), the Securities and Futures Commission (SFC), or licensed Virtual Asset Trading Platforms (VATPs). 4. Eligible Expenses for Compensation Additionally, the HKMA states that the following expenses incurred by the issuer during the qualified issuance process can be compensated if they meet the subsidy requirements: Fees paid to the DLT platform provider, excluding fees paid by issuer affiliates; Fees paid to local underwriters in Hong Kong, excluding fees paid by issuer affiliates to underwriters; Fees paid to local legal advisors in Hong Kong; Fees paid to local auditors, accountants, and rating agencies in Hong Kong; Listing fees paid to the Hong Kong Stock Exchange (SEHK), the Securities and Futures Commission (SFC), and licensed Virtual Asset Trading Platforms (VATPs); Accommodation and settlement fees paid to the Central Monetary Unit (CMU). Finally, if the issued digital bonds are also green bonds, social bonds, sustainable development bonds, sustainable development-linked bonds, or transition bonds, and meet the eligibility requirements of the relevant grant programs, the following benefits can be enjoyed: Qualified ordinary bond issuance expenses can be compensated through the DBGS or GSF grant program Track I project, up to 2.5 million Hong Kong dollars, but cannot be applied for simultaneously; External sustainability review fees can be compensated through the GSF grant program Track II project, up to 800,000 Hong Kong dollars, and apply to the total sum of pre-issuance and post-issuance external review fees. Related reports: Hong Kong Monetary Authority's 'Stablecoin Issuers' Sandbox List Released: Animoca joins hands with Standard Chartered Bank, JD Coin Chain Technology, Round Coin Innovation Leading Hong Kong Monetary Authority: Will issue tokenization green bonds again, cross-border CBDC project mBridge will be launched next year USDC issuer Circle plans to enter Hong Kong: waiting for stablecoin regulations to be issued, backed by a large mainland market (Up to 2.5 million Hong Kong dollars in grants! What are the application requirements for the Hong Kong Monetary Authority's 'Digital Bond Grant Scheme DBGS'?) This article was first published on BlockTempo by Motion Zone, the most influential Blockchain news media.