Coin Gabbar Token

<h2 id="header-0">BOCI Partnership with UBS to Issue Tokenized Securities in Hong Kong and Revolutionizing Hong Kong&#39;s Financial Market</h2><p>BOCI, the investment bank subsidiary of the Bank of China, has achieved a significant milestone in Hong Kong&#39;s financial landscape. They recently became the first Chinese financial institution to issue a tokenized security, marking a breakthrough for the region. Teaming up with UBS, a renowned investment banking company, BOCI announced the release of 200 million Chinese yuan (around $28 million) worth of digitally structured notes on the Ethereum <strong><a href="https://www.coingabbar.com/en/crypto-blogs-details/types-of-blockchain-permissioned-and-permissionless" rel="noopener noreferrer nofollow">blockchain</a></strong>. This move is aimed at simplifying digital asset markets and products for customers in the Asia-Pacific region, showcasing their commitment to embracing blockchain technology.</p><p>UBS has also been actively involved in expanding tokenization across different sectors, such as structured products, fixed income, and repo financing. In December 2022, they successfully issued a $50 million tokenized fixed-rate note using English and Swiss law, which was digitized on a permissioned blockchain. This highlights their dedication to exploring innovative solutions in the digital asset space.</p><p>Meanwhile, <strong><a href="https://www.coingabbar.com/en/crypto-currency-news/hong-kong-advances-retail-cbdc-amid-crypto-surge-and-sec-lawsuit" rel="noopener noreferrer nofollow">Hong Kong</a></strong> has been making significant strides in the cryptocurrency and blockchain industry. On June 1, the region opened access to crypto exchanges for retail users, signaling its growing interest and support for digital assets. Joseph Chan Ho-lim, the undersecretary for financial services and the treasury of Hong Kong, expressed the region&#39;s active participation in the blockchain industry and its ambition to establish a regulatory framework for stablecoins within a year.</p><h3 id="hong-kong-leads-in-financial-tokenization-boosting-digital-asset-growth">Hong Kong Leads in Financial Tokenization, Boosting Digital Asset Growth</h3><p>Hong Kong has also been at the forefront of financial instrument tokenization. In February 2023, they issued an HK$800 million green bond, tokenized on Goldman Sachs&#39; GS DAP protocol, offering an annual yield of 4.05%. Additionally, in December 2022, Hong Kong introduced two exchange-traded funds for <strong><a href="https://www.coingabbar.com/en/crypto-blogs-details/top-6-cryptocurrency-trading-strategies-for-twenty-twenty-three" rel="noopener noreferrer nofollow">cryptocurrency</a></strong> futures, raising over $70 million before their launch. These initiatives demonstrate Hong Kong&#39;s commitment to innovation and positioning itself as a leading hub for digital assets in the Asia-Pacific region.</p><p>By integrating blockchain technology and tokenization into the financial sector, Hong Kong is fostering a favorable environment for digital asset growth. BOCI and UBS&#39;s groundbreaking efforts in issuing tokenized securities are likely to pave the way for further advancements and opportunities in the Asian market. As Hong Kong actively embraces these technologies, it sets a positive precedent for other regions to follow suit, contributing to the overall expansion of the digital asset landscape.</p>

BOCI & UBS Partnership Issue Tokenized Securities in Hong Kong and Expands Digital Asset Market

Table of Contents

Coingabbar

Other articles published on Jun 14, 2023

Lunc Community Awaits Google to Update Chrome Extension: v2.1.0 Parity Upgrade

US Treasury secretary believes CBDCs should be confidential

Unsealed Hinman Documents Challenge SEC’s Role in Digital Asset Governance and Demand Investigati...

Financial Services Republicans Demand SEC to Rescind its Definition of "Exchange

SEC refuses to make any decision on Coinbase’s rulemaking petition

SEC Requests More Time To Respond to Coinbase’s Call for Clarity

Join our free newsletter for daily crypto updates!