BOCI Issues First Tokenized Notes in Hong Kong

Jun 12, 2023

온라인 슬롯 사이트

Bank of China’s investment bank, BOCI, has made history by issuing fully digital structured notes in Hong Kong.

Significant Milestone

Bank of China’s investment bank, BOCI, has achieved a significant milestone in Hong Kong’s financial industry. 200 million yuan (US$28 million) worth of fully digital structured notes, becoming the first Chinese financial institution to issue a tokenized security in the city. This groundbreaking product is a result of BOCI’s collaboration with UBS, reflecting their commitment to digital innovation.

JUST IN: 🇨🇳 Bank of China’s BOCI, in collaboration with , has successfully issued the country’s first tokenized security on the blockchain. …

— Coinzone ⭕️ (@Coinzonestats)

Issuance on Ethereum Blockchain

The structured notes issued by BOCI were tokenized on the Ethereum blockchain, leveraging the benefits of blockchain technology. This transaction is the first of its kind in Asia-Pacific, combining the legal frameworks of Hong Kong and Switzerland and utilizing the Ethereum blockchain for tokenization. The tokenization process ensures the security and integrity of the digital asset.

Collaboration with UBS

UBS, a leading global financial services firm, played a vital role in the issuance of these tokenized notes. They originated the product and placed it with their clients in the Asia-Pacific region. This collaboration signifies a long-term partnership between BOCI and UBS in the field of digital structured notes, showcasing their commitment to providing innovative solutions to customers in the region.

Advantages of Blockchain Technology

Aurelian Troendle, Global Head of MTN Trading at UBS, highlights the growing interest among their clients in fully regulated digital asset products in Asia-Pacific. The use of blockchain technology offers significant efficiency gains, especially in high-frequency issuance activities. By leveraging blockchain technology, investors can benefit from enhanced efficiency and streamlined processes.

Driving Digital Transformation

BOCI’s Deputy CEO, Ying Wang, emphasizes their dedication to driving the simplification of digital asset markets and products in Asia-Pacific. Through the development of blockchain-based digital structured products, specifically designed for customers in the region, BOCI aims to support the digital transformation and innovative development of Hong Kong’s financial industry. They are encouraged by the evolution of Hong Kong’s digital economy.

Ms Ying Wang, Deputy CEO at 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. We are encouraged by the evolution of…

— Wu Blockchain (@WuBlockchain)

Conclusion

The issuance of tokenized notes by BOCI in Hong Kong marks a significant milestone for the financial industry in Asia-Pacific. By leveraging blockchain technology and collaborating with UBS, BOCI has successfully introduced a regulated security onto the Ethereum blockchain. This achievement demonstrates BOCI’s commitment to innovation and supporting the digital transformation of the financial industry in Hong Kong.

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