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

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