BOCI Makes History As First Chinese Bank To Issue Tokenized Security

Blockchain

BOCI has a protracted historical past of serving numerous shoppers by way of steady product innovation. It’s a main Chinese language issuer with a full vary of merchandise, a big quantity of issuance, and full providers to its shoppers. The wholly-owned funding financial institution of Financial institution of China was the primary Chinese language monetary establishment to difficulty structured notes abroad.

UBS, then again, issued a USD 50 million tokenized fastened charge be aware in December 2022 beneath English and Swiss regulation, digitized on a permissioned blockchain. UBS continues to increase its tokenization providers, by way of UBS Tokenize, throughout structured merchandise, fastened revenue, and repo financing.

BOCI and UBS have taken new steps concerning relevant regulation and blockchain varieties by issuing these digital securities. This transaction marks the primary product of its form within the Asia Pacific constituted beneath Hong Kong and Swiss regulation and tokenized on the principle Ethereum blockchain, efficiently introducing regulated securities onto a public blockchain.

“BOCI may be very happy to be on the forefront of innovation in expertise finance and digital finance,” mentioned Ms. Ying Wang, Deputy CEO at BOCI. “Working along with UBS, we’re driving the simplification of digital asset markets and merchandise for patrons in Asia Pacific by creating blockchain-based digital structured merchandise designed particularly for patrons in Asia Pacific. We’re inspired by the evolution of Hong Kong’s digital financial system and are dedicated to selling the digital transformation and modern growth of Hong Kong’s monetary trade.”

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