Global-Asia Digital Bond Grant Scheme (G-ADBGS)

The Global-Asia Digital Bond Grant Scheme is an FSDF programme from the Monetary Authority of Singapore that supports digital bonds issued on a digital platform using distributed ledger technology. Published in January 2025 and valid through 31 December 2029, it is tied to the broader Project Guardian effort to build digital-asset market infrastructure in Singapore. The scheme is aimed at companies and non-bank financial institutions with an Asian nexus. MAS reimburses 30% of eligible issuance expenses, with a cap of SGD 450,000 for issues of at least SGD 200 million and SGD 250,000 for issues of SGD 100 million. Qualifying bonds must be issued on a designated Singapore digital asset platform, listed on SGX or a designated digital platform, substantially arranged by Singapore-licensed entities, and aligned with recognised digital bond standards. Issues of SGD 200 million or more must be digitally native, and issuers can claim support for up to two qualifying issuances. Eligible costs include arranger, audit, credit rating, legal, listing, and platform fees, with applications due within three months after the issue date. This is a scheme for issuers that can execute a full digital-bond process with Singapore market infrastructure and a clear Asian nexus. The larger cap only becomes relevant if the issue size is big enough to justify it, so the application has to show both scale and execution capacity. The most convincing proposals will have the legal, rating, listing, and platform work lined up early enough to meet the Singapore licensing and platform conditions without delay.

Each grant below is a distinct funding opportunity with its own eligibility, scope, and deliverables.