Overview
Digital bonds are bonds issued on a digital platform using distributed ledger technology, which enables the automation of operational, settlement and asset servicing processes. This has the potential to improve operational efficiency and lower costs.
The Global-Asia Digital Bond Grant Scheme seeks to catalyse the issuance and broader market adoption of digital bonds in Singapore. Funding under the scheme will be provided for up to two qualifying digital bond issuances. The scheme is valid till 31 December 2029.
Grant Details
The details of the scheme are as follows:
| Grant categories |
Details |
| Qualifying issuer |
Companies or financial institutions based onshore or offshore with an Asian nexus. |
| Qualifying issuance |
- Declares itself to be a Qualifying Debt Security.
- Issued on a designated digital asset platform in Singapore.
- Listed on the Singapore Exchange (SGX) or a designated digital asset platform.
- Substantially arranged by licensed entities in Singapore.
- Aligned with internationally-recognised digital bond standards.
- Minimum issuance size of S$100 million. Where the issuance size is at least S$200 million, the bond must be digitally native.
- Where the tenure is at least 1 year, the issue must be joint-led by at least 2 specified licensed entities in Singapore.
- Denominated in Asian local or G3 currencies.
|
| Eligible expenses |
- Arranger fees
- Audit fees
- Credit rating fees
- Legal fees
- Listing agent fees
- Listing fees
- Platform fees
|
| Per-issuance cap |
- Eligible expenses are funded at a level of 30%,
- At a cap of S$450,000 where the initial principal amount issued is S$200 million (or its equivalent in another currency), or
- At a cap of S$250,000 where the initial principal amount issued is S$100 million (or its equivalent in another currency).
|
How to Apply
Interested parties can write to fsdf_ext@mas.gov.sg for more information.
Applicants of Global-Asia Digital Bond Grant Scheme should submit their applications no later than 3 months after the issue date.