BOC International Holdings Limited (BOCI), the investment banking arm of the Bank of China, has become the first Chinese financial institution to issue tokenized securities in Hong Kong by issuing CNH 200 million fully digital structured notes.
State Bank of China, Bank of China Issues Tokenized Securities on Ethereum Chain
Produced by Swiss banking giant UBS and offered to customers in Asia Pacific, the product marks a long-term collaboration between BOCI and UBS in the field of digital structured securities.
The tokenization of the said digital securities on the Ethereum (ETH) chain drew attention.
In December 2022, UBS issued a $50 million tokenized fixed rate bond digitized on a permissioned blockchain under British and Swiss law.
Ying Wang, Acting CEO of BOCI, said:
“BOCI is delighted to be at the forefront of innovation in technology finance and digital finance.
Working with UBS, we are leading the simplification of digital asset markets and products for clients in these countries through the development of blockchain-based digital structured products designed specifically for clients in Asia Pacific.
We are encouraged by the development of Hong Kong's digital economy and we are committed to supporting the digital transformation and innovative development of Hong Kong's financial sector.”
Aurelian Troendle, Global Head of MTN Operations at UBS AG, expressed his thoughts on the development as follows:
“We are pleased to work with BOCI on this transaction to bring structured products to a public blockchain network, supporting the growing interest of our APAC customers in fully regulated digital asset products.”
*Not investment advice.
