Pacific

Bank AI

KONG

Daily

<p><strong>Bank of China&#8217;s investment bank, BOCI, has made history by issuing fully digital structured notes in Hong Kong.</strong></p>
<h2 style="text-align: center;" id="significant-milestone">Significant Milestone</h2>
<p>Bank of China&#8217;s investment bank, BOCI, has achieved a significant milestone in Hong Kong&#8217;s financial industry. <a href="https://www.ubs.com/global/en/media/display-page-ndp/en-20230609-tokenized-notes.html?caasID=CAAS-ActivityStream" target="_blank" rel="noopener">It has successfully issued</a> 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&#8217;s collaboration with UBS, reflecting their commitment to digital innovation.</p>
<blockquote class="twitter-tweet">
<p dir="ltr" lang="en">🇭🇰BANK OF CHINA INTERNATIONAL IN COLLABORATION WITH UBS ISSUES FIRST TOKENIZED SECURITY ON <a href="https://twitter.com/hashtag/ETHEREUM?src=hash&amp;ref_src=twsrc%5Etfw">#ETHEREUM</a> IN HONG KONG <a href="https://t.co/E4PttHAqoY">pic.twitter.com/E4PttHAqoY</a></p>
<p>— Blockchain Daily (@blckchaindaily) <a href="https://twitter.com/blckchaindaily/status/1668259492516044804?ref_src=twsrc%5Etfw">June 12, 2023</a></p></blockquote>
<p><script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></p>
<h2 style="text-align: center;" id="issuance-on-ethereum-blockchain">Issuance on Ethereum Blockchain</h2>
<p>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.</p>
<h2 style="text-align: center;" id="collaboration-with-ubs">Collaboration with UBS</h2>
<p>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 <a href="https://walletinvestor.com/magazinadmin/uae-and-hong-kong-monetary-authority-strengthen-financial-cooperation/" target="_blank" rel="noopener">Asia-Pacific region</a>. 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.</p>
<h2 style="text-align: center;" id="advantages-of-blockchain-technology">Advantages of Blockchain Technology</h2>
<p>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.</p>
<h2 style="text-align: center;" id="driving-digital-transformation">Driving Digital Transformation</h2>
<p>BOCI&#8217;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&#8217;s financial industry. They are encouraged by the evolution of Hong Kong&#8217;s digital economy.</p>
<blockquote class="twitter-tweet">
<p dir="ltr" lang="en">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…</p>
<p>— Wu Blockchain (@WuBlockchain) <a href="https://twitter.com/WuBlockchain/status/1668245268779925509?ref_src=twsrc%5Etfw">June 12, 2023</a></p></blockquote>
<p><script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></p>
<h2 style="text-align: center;" id="conclusion">Conclusion</h2>
<p>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&#8217;s commitment to innovation and supporting the digital transformation of the financial industry in Hong Kong.</p>

BOCI Issues First Tokenized Notes in Hong Kong

Table of Contents

WalletInvestor

Other articles published on Jun 12, 2023

BNB Price Dips to Low Amidst the SEC Legal Battle

BlockDown Festival and Metaverse Fashion Council set to Empower Attendees with Cutting-Edge Fashi...

Sturdy Finance Loses 442 ETHs Worth $800,000 in an Exploitation

Shiba Inu Team Official Hints at Shibarium Best Launch Time

Pro-XRP Lawyer Highlights How Hinman Emails Will Help Ripple and Coinbase

SubQuery Amplifies White Whale’s Data Indexing and Chain Accessibility, Boosts the Cosmos Ecosystem

Join our free newsletter for daily crypto updates!