According to Ledger Insights, HSBC issued the first HK$1 billion (one-year) digital note listed on the Hong Kong Stock Exchange through its HSBC Orion distributed ledger technology (DLT) platform. The note has an interest rate of 3.6%, with the Hong Kong Central Securities Depository (CSD) CMU as the platform operator, and a settlement window of two days. This is also the first digital bond issued in Hong Kong based on British law.