Bank of China’s investment bank subsidiary BOCI announced the issuance of 200 million Chinese yuan ($28 million) worth of digital structured notes minted on the #Ethereum blockchain
The product was originated by UBS and placed to its clients in the Asia Pacific region, «marking a long-term collaboration between BOCI and UBS in the space of digital structured notes», BOCI said.
«Working together with UBS, we are driving the simplification of digital asset markets and products, for customers in Asia Pacific through the development of blockchain-based digital structured products, designed specifically for customers in Asia Pacific,» said BOCI deputy CEO Ying Wang.
In December 2022, UBS’s London branch issued $50 million of tokenized debt securities to high net worth individuals and family offices in Hong Kong and Singapore
Previously Hong Kong opened crypto exchange access for retail users on June 1. Roughly two weeks later, Joseph Chan Ho-lim, under secretary for financial services and the treasury for the government of Hong Kong, stated that the special administrative region is “actively participating” in the blockchain industry and aims to establish a framework for stablecoin regulation within one year.
On Feb. 16, Hong Kong issued an HK$800 million green bond tokenized on Goldman Sachs’ tokenization protocol GS DAP with an annual yield of 4.05%. In December 2022, Hong Kong introduced two exchange-traded funds for cryptocurrency futures, raising over $70 millionbefore their launch.
