Asia’s best ESG deal 2025: Hong Kong government’s HK$6 billion equivalent multi-currency digital bond

When Hong Kong’s government sought to issue its second digital bond in February 2024, it confronted a dual mandate: advance sustainable finance while proving blockchain’s viability in institutional capital markets. It turned to Crédit Agricole to orchestrate what would become a watershed moment for sustainable finance in Asia. The resulting HK$6 billion ($764 million) equivalent multi-currency offering didn’t just break records – it demonstrated how blockchain technology could finally deliver on its promise.

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