bond

According to Bloomberg, Hong Kong Mortgage Corporation Limited plans to raise up to HKD 12 billion (USD 1.5 billion) through its first issuance of digital bonds, which could become the largest issuance of such bonds in history. Hong Kong Mortgage Corporation is a financial services provider owned by the Hong Kong government, with total assets of approximately HKD 221.8 billion.Insiders revealed that Hong Kong Mortgage Corporation is expected to start marketing multi-currency digital bonds denominated in Hong Kong dollars and offshore renminbi as early as next month. This debt instrument, which utilizes blockchain technology in the issuance, trading, and settlement phases, not only shortens settlement times and reduces costs but also accelerates scalability.

According to official news, OpenEden announced a partnership with BNY Investments, a subsidiary of Bank of New York Mellon, to launch the tokenized product HYBOND, which will put its global short-term high-yield bond fund on the blockchain.This product will initially be open to select institutional clients and is planned to be fully available to institutional investors by the end of April 2026. It is currently deployed on the Ethereum network and will later expand to multi-chain ecosystems such as XRP Ledger and BNB Chain.

According to the Financial Times, foreign central banks have reduced their holdings of U.S. Treasury bonds to the lowest level since 2012 in order to support their domestic economies and currencies during the war in Iran.Since February 25, the value of Treasury bonds held in custody at the New York Federal Reserve Bank by official institutions has decreased by $82 billion. Some central banks have intervened in the foreign exchange market to support their domestic currencies. Such interventions typically involve selling dollars to respond to crises. Since February 27, the Turkish central bank alone has sold $22 billion worth of foreign government bonds.Analysis indicates that supply shocks have put immense pressure on global central banks.

According to Bloomberg, the New Hampshire Department of Business and Economic Affairs plans to issue municipal bonds backed by Bitcoin, with a total scale of approximately $100 million. This product has received a Ba2 rating from Moody's Investors Service (two notches below investment grade).The principal and interest of the bonds will be repaid using funds generated from the Bitcoin collateral, providing additional returns when Bitcoin prices rise, and there are price-triggered liquidation clauses to ensure repayment; the related debt is not supported by state government credit or taxes.

CoinDesk analyst James Van Straten pointed out that the 40-year Japanese government bond yield has risen above 4%, and the Bank of Japan's interest rate hike may become the next "black swan" event.

According to Jinshi Data, the yield on the 30-year U.S. Treasury bond rose to 4.986%, reaching a new high since September of last year.

According to Jinshi Data, the yield on Japan's 10-year government bonds has risen to its highest level since 1999.

Centrifuge announced that S&P Global Ratings has upgraded the credit quality rating (FCQR) of the tokenized government bond fund JTRSY to "AAAf," while reaffirming that JTRSY has received an "S1+" fund volatility rating (FVR), both of which are the highest levels under their respective methodologies.JTRSY is built on Centrifuge and managed by Anemoy Capital and JHI Advisors, with assets under management exceeding $1 billion.

According to Jinshi, the yield on the U.S. 2-year Treasury bond rose to 4%, increasing by 10 basis points during the day; the latest pricing of interest rate futures shows that the Federal Reserve is expected to raise rates by about 15 basis points by the end of this year.

According to researcher Vadym's analysis, DeFi is expected to generate approximately $8 billion in on-chain revenue by 2025. The largest source is AMM trading fees, accounting for about $4.2 billion, with Uniswap, Meteora, and Raydium making up 62%; lending interest is the second largest source, around $1.76 billion, with money markets like Aave and Morpho contributing over 60% of DeFi's total TVL, although about half of the lending demand is due to cyclical leverage operations.RWA contributes $600 million to $900 million, with U.S. Treasury bonds making up about 41% of the RWA market. Perpetual contract funding rates contribute about $300 million, mainly from Ethena. It is noteworthy that more than half of the stablecoin deposit yields in the Ethereum ecosystem are below U.S. Treasury bond rates. Potential sources of revenue such as insurance underwriting and on-chain options have yet to be fully developed. Analyzing Sky (formerly MakerDAO) as an example, it is pointed out that about 70% of its revenue comes from off-chain assets, reflecting that TradFi revenue is accelerating into DeFi through licensed channels.

According to Cointelegraph, M1X Global, behind the Marshall Islands UBI program, has completed a $3 million angel round of financing, with investors including former Coinbase CTO Balaji Srinivasan and Cumberland Labs CEO Tama Churchouse, among other figures in the crypto industry. The funds will be used to promote the expansion of USDM1 digital sovereign bonds into the institutional market.USDM1 was launched on the Stellar blockchain last December, but the IMF has warned that the project carries financial risks and cybersecurity vulnerabilities, believing that its returns are not proportional to its risks.

According to CoinDesk, Invesco is an asset management company based in the United States with assets under management of $2.2 trillion. The company will take over the tokenized U.S. Treasury bond fund from Superstate, marking a further deepening of large traditional asset management institutions into the blockchain finance sector.The USTB fund holds short-term U.S. Treasury assets, with a size exceeding $900 million, making it one of the largest tokenized U.S. Treasury bond funds. This niche market is rapidly growing, aiming to bring money market funds onto the blockchain. As planned, this transition is expected to be completed in the second quarter of 2026, at which point the fund will be renamed Invesco Short Duration US Government Securities Fund, while retaining its original code and token structure.This move also marks Invesco's formal entry into the tokenized U.S. Treasury market, which is approximately $12 billion in size, competing with global asset management giants such as BlackRock, Franklin Templeton, and Fidelity.

According to Jinshi Data, on Monday morning, Japanese government bond prices fell, and yields rose again to their highest levels in decades. Market concerns are growing that escalating conflicts in the Middle East will drive up inflation rates. The yield on 10-year bonds rose 6 basis points to 2.32%, close to the historic high set in January 1999.The yield on 5-year bonds rose 5 basis points to 1.72%, just a step away from its highest level since issuance. The fluctuations in Japanese government bond yields follow the movements of U.S. Treasury yields, which have been declining for several weeks and are currently at their highest levels in months.There are no signs of easing tensions in the Middle East, as Trump issued a 48-hour ultimatum to Tehran, demanding it open the Strait of Hormuz, or else he would launch attacks on Iran's power plants. This deadline will expire on Monday night New York time.

The Party Committee of the People's Bank of China held an expanded meeting. Actively and steadily resolve financial risks in key areas. Maintain a dynamic balance between economic growth, economic structure adjustment, and financial risk prevention at the macro level. Continue to promote the resolution of debt risks for financing platform support.Adhere to the principles of marketization and rule of law, and actively and steadily handle risks in small and medium-sized financial institutions. Fully leverage the central bank's macro-prudential management and financial stability functions, and firmly maintain the stable operation of financial markets such as stocks, bonds, and foreign exchange. Research and establish a liquidity support mechanism for non-bank financial institutions under specific scenarios. Work with relevant departments to continue a high-pressure crackdown on illegal financial activities.

According to CoinDesk, Bitwise Asset Management Chief Investment Officer Matt Hougan stated that if Bitcoin can capture a larger share of the global value storage market currently dominated by gold and government bonds, Bitcoin could eventually reach $1 million per coin. Geopolitical tensions, potential crises in traditional "safe" assets, and Bitcoin's fixed supply could accelerate its rise, but most believe this will take a decade or longer, rather than being an imminent event.Analysts say that the $1 million target is less of an exact prediction and more of a shorthand for Bitcoin maturing into a major global currency asset, with the outcome depending on long-term institutional adoption and the expansion of the value storage market.

According to the latest data from rwa.xyz, Circle's tokenized U.S. Treasury fund USYC has surged over 41% in scale, with a total value exceeding $2.2 billion, successfully surpassing BlackRock's BUIDL fund to become the world's largest tokenized U.S. Treasury product.

According to BBX data, yesterday global listed companies exhibited "high frequency and standardized" characteristics in expanding their crypto treasuries:Semler Scientific (NASDAQ: $SMLR): Yesterday, it used the ATM financing tool to acquire another 580 BTC, costing approximately $41.2 million. Its total holdings have now surpassed 1,500 BTC.Cosmos Health (NASDAQ: $COSM): The board passed a resolution to issue $20 million in special bonds for the purchase of BTC and ETH, accelerating the digitalization of its treasury through debt leverage.Solidion Technology (NASDAQ: $STI): Officially established financial guidelines to convert 60% of its redundant cash on the balance sheet into Bitcoin in batches, as a core strategy to hedge against the decline in fiat purchasing power.SOS Ltd (NYSE: $SOS): Confirmed that it has executed the first $15 million subscription of its $50 million Bitcoin and Ethereum investment plan, aiming to complete the entire allocation in the second quarter.Bit Digital (NASDAQ: $BTBT): Disclosed that it increased its holdings by 45 BTC yesterday through AI business profits, adhering to the endogenous growth logic of "business profits as reserves."

According to BBX data, the global cryptocurrency assets have deeply evolved towards "credit toolization" yesterday, with listed companies demonstrating a resilient strategy of leveraging debt to acquire digital sovereignty and "output retention":European bond premium: Samara Asset Group (Euronext: $SRAG) announced that its €30 million Bitcoin bond was oversubscribed. By acquiring Bitcoin on a large scale through non-dilutive debt instruments, Samara locked in low fiat interest rates and successfully "Bitcoinized" its balance sheet, avoiding equity dilution.Hashrate retention discipline: Bitfarms (NASDAQ: $BITF) confirmed the launch of its new mining facility in Paraguay, with a retention rate of 85% yesterday. By optimizing its global energy portfolio, the company expanded its reserves through "passive accumulation" on the production side without relying on external equity financing.Nasdaq's new sentinel: Thumzup Media (NASDAQ: $TZUP) board approved a $1 million Bitcoin holding plan yesterday. This marks Bitcoin as an officially recognized "standard tool" for small and mid-cap tech companies in the U.S. stock market to combat the decline in fiat purchasing power and reshape asset structures.Hong Kong stock treasury model: Boyaa Interactive (0434.HK) confirmed in a board preparatory meeting yesterday that it will continue to strengthen its "Bitcoin-first" treasury asset allocation. As a leading listed company in Asia holding Bitcoin, its treasury net worth has become a core driver of its stock price, and the company plans to disclose more accumulation details in its upcoming annual performance report.The market is showing a clear dual evolution trend of "debt-driven accumulation" and "internal growth of hashrate."

According to Bloomberg, Amazon is returning to the bond market with a massive cross-border issuance, which has intensified the corporate borrowing wave driven by the AI boom.Insiders revealed that the company plans to issue up to 11 tranches in the form of U.S. investment-grade bonds, with maturities ranging from 2 to 50 years. The sources added that preliminary pricing discussions for the longest bond (maturing in 2076) indicate a premium of about 1.55 percentage points over U.S. Treasuries. The individuals requested anonymity due to the private nature of the information.HSBC Holdings, Citigroup, Goldman Sachs, and JPMorgan will be responsible for underwriting this bond issuance. This is the latest in a series of large bond issuances by major cloud computing companies, which are preparing to invest hundreds of billions of dollars in building AI infrastructure. So far, investor demand remains strong, with recent bond offerings being oversubscribed multiple times.

Bank of Canada completed a pilot project called Project Samara with several major Canadian banks, testing the feasibility of issuing, trading, and settling bonds on a distributed ledger.In this experiment, Export Development Canada, the official export credit agency of Canada, issued a bond worth 100 million Canadian dollars (approximately 73 million US dollars) with a maturity of less than three months, selling it to a small group of institutional investors. Participants in the project also included RBC Dominion Securities, RBC Investor Services Trust, and TD Securities under Toronto-Dominion Bank. The results of the experiment showed that a single blockchain-based platform could support the entire lifecycle of a bond, including issuance, bidding, coupon payments, secondary market trading, and maturity redemption processes. Additionally, the project tested on-chain settlement using a wholesale digital Canadian dollar issued by the Bank of Canada, allowing funds and bonds to be settled on the same ledger. This pilot comes at a time when Canada is strengthening its regulation of digital assets. The government plans to introduce regulatory legislation for Canadian dollar stablecoins and has passed a new framework for crypto asset custody to enhance asset security and risk management on trading platforms.