The Bank of China issued digital structured notes worth $28 million on the Ethereum blockchain
Securities tokens are within the jurisdictions of Hong Kong and Switzerland.
The BOCI Investment Bank, a subsidiary of the Bank of China, issued digital notes with the structure on the Ethereum blockchain on June 12 with a face value of 200 million Chinese yuan ($28 million). UBS, an investment bank, was instrumental in the product’s inception and placement with an Asia-Pacific customer. Ying Wang, BOCI’s vice CEO, said:
“By creating blockchain-based digital structured products tailored to clients’ needs in Asia and the Pacific, our joint efforts with UBS are driving the simplification of digital asset markets and products.”
Concurrently, UBS has been increasing the scope of its tokenization to include fixed income, repo financing, and structured products. In December 2022, the company released a $50,000,000 tokenized fixed-rate note on a permissioned blockchain in accordance with English and Swiss legislation.
On June 1, as previously reported by Cointelegraph, retail consumers in Hong Kong gained access to cryptocurrency exchanges. About two weeks later, Hong Kong’s under-secretary for financial services and the treasury, Joseph Chan Ho-lim, announced that Hong Kong is “actively participating” in the blockchain industry and plans to create a regulatory framework for stablecoins within the next twelve months.
On February 16th, Hong Kong issued an HK$800 million green bond with a yield of 4.05%, tokenized using Goldman Sachs’ GS DAP tokenization technology. Hong Kong debuted two crypto futures exchange-traded funds in December 2022, with pre-launch assets of about $70 million.
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