HSBC has issued a HK$1 billion (US$ 128m) one year digital note using DLT. It used a similar setup to the sovereign Hong Kong US$756 million digital bond issuance earlier this year. Hence, the latest digital note was issued on the HSBC Orion DLT, with the local central securities depository (CSD), the CMU, as the platform operator.

It is the first digital note listed on the Hong Kong Stock Exchange (HKEX) by a Hong Kong company. It is also the first English law digital bond issued in Hong Kong. The 3.6% notes used a two day settlement window.

The integration with other CMU systems means that investors who don’t directly participate in the DLT platform can still buy the notes in the conventional manner. For this issuance the bonds are accessible directly via the DLT, via custodians and via CMU accounts. The February sovereign bonds were issued under Hong Kong law and were also accessible via Euroclear and Clearstream. However, the Euroclear and Clearstream linkage to CMU is not yet available for the English law digital bond.

While digital bond issuances promise efficiencies, lower costs and the potential of risk reduction through delivery verus payment, liquidity can be an issue. However, this is addressed by these CSD integrations. Otherwise, if the bonds are only available via the DLT and not through the channels that investors normally use, it reduces the potential pool of investors and hence the bond’s liquidity.

HSBC took on quite a few roles as issuer, platform provider, arranger, dealer, sole bookrunner and joint lead manager. The other lead managers were Agricultural Bank of China (Hong Kong Branch), China Construction Bank (Asia), Bank of China, ICBC (Asia) and Bank of Communications.

Linklaters provide legal guidance.

Meanwhile, HSBC Orion uses Digital Asset’s DAML combined with Hyperledger Fabric.

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Today Northern Trust shared the results of a very recent London poll of 100 investment professionals, with 34% either already investing in digital assets or planning to soon.

Which assets to tokenize?

Opinions differ on which assets are likely to be tokenized first. Northern Trust’s poll found that two thirds believe private assets will benefit most. The next most promising groups are commodities and real estate (53%) followed by money market funds (36%).

“These findings underscore the duality of opportunities and challenges as our clients navigate their data needs with the emerging integration of digital assets and advanced technologies,” said Pete Cherecwich, incoming COO at Northern Trust.

State Street digital asset survey

Meanwhile, in June State Street published a survey of 300 investment institutions across the globe. It warned that it conducted the survey shortly after the launch of Bitcoin ETFs in the U.S. which may have affected the responses.

The results regarding the assets most likely to be tokenized were very similar to the Northern Trust poll.

The State Street respondents had a high engagement in digital assets, with 62% already having a dedicated digital asset function, while all the rest (bar 5%) plan to create one. Generally, the group was pretty optimistic about the potential benefits of digital assets, ranging from better distribution to lower compliance and trading costs.

Despite that optimism, one of State Street’s most striking findings was the expected time for digital assets to go mainstream, particularly the interoperability between traditional finance (TradFi) and decentralized finance (DeFi). More than half (58%) believe it will take ten years or more to go mainstream with just 11% predicting it will take less than five years.

Forty percent of investors have an equal emphasis on tokenization and cryptocurrencies, whereas 41% are primarily focused on crypto. Americans are over represented in the ‘only crypto’ segment and have significantly more bullish expectations for crypto. Despite a perception that APAC has a huge appetite for crypto, twice the number of Americans (45%) expect higher returns from crypto than tokenized investments compared to APAC investors (22%). APAC investors were roughly three times more enthusiastic about central bank digital currencies (28%) compared to Americans and Europeans.

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Keep in mind this new dapp is in Beta and updates will come as the team works out the glitches people come into. I have read some issues where deleting the dapp and reinstalling it solves most problems, if not see the discord support link at the bottom of this article so you can get yours resolved if you are having any. I have the dapp running on my galaxy pad as well as my Galaxy S22, without incident. ~Dinarian

In one of the biggest leaps forward in Theta’s history, the mobile version of the Theta Edge Node for Android devices launched today on Sept 25, 2024. The mobile Edge Node extends Theta EdgeCloud’s existing network of over 30,000 desktop nodes to potentially tap into the computing resources of 3.9 billion active Android devices globally. Now Android smartphone users can contribute GPU computing power to Theta’s distributed EdgeCloud network and earn TFUEL tokens as compensation. Android users can start earning today by downloading the Theta Edge Node in the Google Play store now, and read the launch FAQs here.

💠 What is EdgeCloud for mobile?

EdgeCloud for Mobile extends Theta’s existing network of over 30,000 desktop nodes to potentially tap into the computing resources of 3.9 billion active Android devices globally. This new Edge Node Android app allows Android smartphone users to contribute GPU computing power to Theta’s distributed EdgeCloud network and earn TFUEL tokens as compensation.

💠 Where can I get EdgeCloud for mobile?

Users can download the app directly from the Google Play Store.

💠 Which mobile devices can I run an Edge Node on?

The Edge Node app can be expected to run on Android mobile devices from 2020 on.

💠 Does EdgeCloud mobile also run on Android TVs?

In this initial version EdgeCloud will only run on mobile devices, but in a future update Android TV devices are planned to be enabled.

💠 Who is using EdgeCloud?

Theta has secured partnerships with leading academic institutions in South Korea, including KAIST, Yonsei University, and most recently Seoul Women’s University. These universities are utilizing Theta EdgeCloud for advanced AI research across fields like media, healthcare, bioinformatics, and finance. Mobile users will now be able to participate in powering this cutting-edge academic research. Theta is also expanding its corporate and enterprise customers with the recent addition of Jamcoding, one of the fastest growing e-Learning online and in-person coding franchises, with nine retail locations and thousands of students globally.

💠 Will the app run in the background, or does it need to stay on and open to the EN app while running?

The Edge Node app will need to be open while you have jobs in process.

💠 Do I need to be on WiFi to use EdgeCloud on mobile? Will I need to keep my mobile device plugged in while using the app?

EdgeCloud can run on cellular internet, but given that data usage can be high we recommend to use WiFi. Battery consumption will vary depending on your device and battery health, but by virtue of leaving the app open and running it will be higher than normal. In testing, we found many users preferred to have their Edge Node app completing jobs at night while the phone is on WiFi and charging.

🚨 Are you having an issue, want to comment or want to contact the dev team directly? 🚨
Have no fear, use this link to contact the Theta Support team.

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