QNB and HSBC Successfully Complete Qatar’s First $500M Digital-Native Bond

QNB Group has completed Qatar’s first-ever digitally native bond issuance, launching a USD 500 million, three-year floating-rate digital bond through HSBC Orion, the bank’s flagship blockchain-based assets platform.

The transaction marks a major milestone in the Middle East’s shift toward digital capital markets and stands as the largest digital-native bond issued by a financial institution in the Middle East and Africa to date.

The deal forms part of QNB’s strategy to diversify its funding base by accessing new markets and tapping into innovative, technology-driven financing channels. The strong investor response highlighting confidence in QNB’s long-term strategy, financial strength and stable outlook.

HSBC served as the sole bookrunner, further advancing its aim to deliver end-to-end blockchain-enabled infrastructure to its clients worldwide. The bond was executed using HSBC Orion, operated through Hong Kong’s Central Money Markets Unit (CMU). The transaction was structured with the support of leading global law firms, reflecting the high governance standards behind the issuance.

The collaboration between QNB and HSBC highlights the growing momentum behind digital assets in the Gulf. It also aligns with Qatar National Vision 2030, positioning digital financial instruments as an increasingly integral part of the country’s capital markets. By leveraging distributed ledger technology, the bond aims to enhance transparency, efficiency, and liquidity in the fixed-income ecosystem.

Issued under QNB’s Euro Medium Term Note (EMTN) programme, the bonds will be listed on the Stock Exchange of Hong Kong. They will be made available to global professional investors through CMU, Euroclear, Clearstream, or custodians already connected to the HSBC Orion platform.

Ms. Noor Al Naimi, Senior Executive Vice President of QNB Group Treasury & Financial Institutions, said the transaction broadens the bank’s range of funding sources, “This inaugural digitally native bond issuance is part of our funding diversification strategy and expands the channels available to QNB. The Group will continue to play a pioneering role in adopting transformative technologies.”

Mr. Abdul Hakeem Mostafawi, CEO of HSBC in Qatar, praised the deal as a milestone for the region, “QNB’s first-mover position lays the foundation for digital assets to become a regular feature of Qatar’s financial landscape. It reflects the strong momentum behind digital assets and HSBC’s role in driving capital-markets transformation, making them smarter, more connected, and more transparent.”