Abu Dhabi Securities Exchange turns UAE tokenized debt into an exchange-infrastructure story

Abu Dhabi Securities Exchange's July 3, 2025 digital bond announcement, with the analysis centered on exchange-layer post-trade integration, CMU and ICSD access, and the distinction between credible market plumbing and unproven market maturity.

ADX's July 3, 2025 announcement matters because it names the institutional rails that matter: ADX listing, HSBC Orion, CMU operation, Euroclear and Clearstream access, existing custodian participation, and exchange-side post-trade compatibility for offshore institutional accounts.

That makes the development materially stronger than a generic tokenization press release.

The limit is equally clear: the public evidence is strongest on launch architecture and access, not yet on repeat issuance, secondary turnover, or post-issuance servicing at scale.

The July 3, 2025 ADX-HSBC-FAB announcement matters because it ties a UAE digital bond to CMU, Euroclear, Clearstream, existing custodians, and ADX post-trade compatibility, making the case for institutional market plumbing rather than a standalone tokenization pilot.