BOCI and UBS Partner to Issue First Tokenized Security in Hong Kong

BOCI, a number one Chinese language monetary establishment, has issued the primary tokenized safety in Hong Kong, reaching a milestone in digital finance. The CNH 200 million absolutely digital structured notes, originated by UBS, have been positioned with purchasers in Asia Pacific, indicating a major collaboration between BOCI and UBS within the digital structured notes area.

This improvement comes after UBS’s issuance of a USD 50 million tokenized mounted fee observe in December 2022, below English and Swiss regulation, on a permissioned blockchain. The most recent enterprise takes a step ahead, marking the primary product of its sort in Asia Pacific, constituted below Hong Kong and Swiss regulation, and tokenized on the primary Ethereum blockchain.

Each BOCI and UBS are pioneering the usage of blockchain expertise to reinforce effectivity in high-frequency issuance actions. Ms Ying Wang, Deputy CEO at BOCI, expressed the establishment’s dedication to driving the simplification of digital asset markets and merchandise by way of blockchain-based digital structured merchandise. She additionally highlighted BOCI’s dedication to advertise the digital transformation of Hong Kong’s monetary business.

In the meantime, UBS continues to broaden its tokenization providers, concentrating on structured merchandise, mounted earnings, and repo financing by way of its UBS Tokenize platform. Aurelian Troendle, International Head of MTN Buying and selling at UBS AG, emphasised the potential advantages blockchain expertise can supply to buyers.

This milestone achieved by BOCI and UBS indicators a brand new period of digital securities, paving the way in which for additional improvements within the discipline.