Mirae Asset Securities' Hong Kong arm put US dollar floating-rate notes from a $3 billion program on Solana, with Marketnode distributing to institutions.
Key Facts
Mirae Asset Securities' Hong Kong arm said on Wednesday it had completed an issuance of tokenized six-month floating-rate notes to eligible institutional investors on Solana.
The US dollar notes were issued in Hong Kong under the firm's $3 billion guaranteed structured note program, with Singapore-regulated Marketnode acting as authorized distributor.
The company said the deal gives it a model it can extend to a broader range of structured products over time.
The Hong Kong arm of Mirae Asset Securities said on Wednesday it had completed an issuance of tokenized six-month floating-rate notes to eligible institutional investors on Solana (SOL), expanding the digital distribution of its structured products to a public blockchain.
The firm said the transaction gives it a model it can apply to a broader range of structured products over time. Its parent company, Mirae Asset Securities Co., is one of the largest securities firms in South Korea, according to the announcement.
How Mirae Asset's Tokenized Notes Work on Solana
The notes are denominated in US dollars and were issued in Hong Kong under the firm's guaranteed structured note program, the company said. The Hong Kong firm said it handles token issuance, payments, and lifecycle management for the notes.
Eligible institutional investors hold the notes as tokenized securities on Solana's public blockchain, according to the company.
Marketnode, a Singapore-regulated digital market infrastructure operator, supported the transaction as an authorized distributor. The release said Marketnode is backed by Euroclear, HSBC, SGX Group and Temasek.
The notes were offered by private placement only to eligible professional investors, as defined under Hong Kong's Securities and Futures Ordinance. The release said they have not been authorized by or registered with Hong Kong's Securities and Futures Commission.
The release did not state the size of the issuance, the rate the notes pay, or the investors that took part.
Marketnode Says Next Stage of Tokenization Is Distribution
Kelly Sohn, head of digital assets at Mirae Asset Securities, said extending the firm's structured note capabilities into "digitally native channels is a natural progression of our strategic focus on digital assets."
Sohn added that the firm is building a foundation to expand its digital product suite and serve institutional investors in global markets.
Lu Yin, head of Asia-Pacific at the Solana Foundation, said public blockchain infrastructure "becomes meaningful to capital markets when it can support the products and workflows institutions already use." Yin said the foundation, a non-profit based in Zug, Switzerland, was proud to support the transaction.
Andrew Scott, head of digital assets at Marketnode, said the next stage of tokenization is about distribution.
"Financial institutions already know how to manufacture sophisticated investment products," Scott said. He added that the opportunity lies in connecting those products with new institutional investors and new channels.
This article contains links to third-party websites or other content for information purposes only (“Third-Party Sites”). The Third-Party Sites are not under the control of CoinMarketCap, and CoinMarketCap is not responsible for the content of any Third-Party Site, including without limitation any link contained in a Third-Party Site, or any changes or updates to a Third-Party Site. CoinMarketCap is providing these links to you only as a convenience, and the inclusion of any link does not imply endorsement, approval or recommendation by CoinMarketCap of the site or any association with its operators. This article is intended to be used and must be used for informational purposes only. It is important to do your own research and analysis before making any material decisions related to any of the products or services described. This article is not intended as, and shall not be construed as, financial advice. The views and opinions expressed in this article are the author’s [company’s] own and do not necessarily reflect those of CoinMarketCap.
