The product was originated by UBS and positioned to its purchasers in Asia Pacific, representing a long-term collaboration between BOCI and UBS in digital structured notes.
BOCI has an extended historical past of serving varied purchasers 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 purchasers. The wholly-owned funding financial institution of Financial institution of China was the primary Chinese language monetary establishment to problem structured notes abroad.
UBS, alternatively, issued a USD 50 million tokenized fastened charge be aware in December 2022 beneath English and Swiss legislation, digitized on a permissioned blockchain. UBS continues to increase its tokenization providers, by way of UBS Tokenize, throughout structured merchandise, fastened earnings, and repo financing.
BOCI and UBS have taken new steps relating to relevant legislation and blockchain sorts by issuing these digital securities. This transaction marks the primary product of its type within the Asia Pacific constituted beneath Hong Kong and Swiss legislation 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,” stated 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 economic system and are dedicated to selling the digital transformation and progressive improvement of Hong Kong’s monetary trade.”
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