HSBC completes first tokenized structured note issuance with Marketnode

Jul. 9, 2026

HSBC has launched its first digitally native structured product through a private placement of US dollar-denominated notes in Hong Kong, partnering with digital infrastructure firm Marketnode for the blockchain-based issuance, according to a Friday statement.

In addition to serving as the tokenization agent, Marketnode acted as the digital paying agent, overseeing payment flows between HSBC and investors.

HSBC said the transaction builds on its digital assets strategy and demonstrates how tokenization can increase efficiency across the lifecycle of structured products. The bank added that the technology could support institutional adoption as demand for structured investment products continues to expand across Asia.

The banking giant issued USD-denominated notes directly on a blockchain, bypassing the traditional post-issuance digitization process entirely. This represents a shift from retrofitting existing products onto blockchain to issuing natively on-chain from inception.

Structured products are complex investment instruments combining derivatives with underlying assets, popular among institutional and high-net-worth investors in Asian markets.