BOCI Issues $28M Digital Structured Notes on Ethereum - Capital Street FX

 

BANK OF CHINA’S INVESTMENT BANK SUBSIDIARY BOCI BREAKS GROUND WITH $28 MILLION DIGITAL STRUCTURED NOTES ON ETHEREUM BLOCKCHAIN.

  • Bank of China’s investment bank subsidiary, BOCI, made a groundbreaking announcement on June 12th, stating that it will issue 200 million Chinese yuan (approximately $28 million) worth of digitally structured notes on the Ethereum blockchain. This move marks a significant milestone for BOCI as it becomes the first Chinese financial institution to issue a tokenized security in Hong Kong. The issuance was facilitated with the assistance of UBS, a prominent investment banking company, which played a crucial role in originating the product for placement to its client base in the Asia-Pacific region.
  • Ying Wang, the deputy CEO of BOCI, expressed her enthusiasm regarding the development, highlighting the increasing adoption of tokenization across various financial instruments. She revealed that UBS has been actively involved in expanding its tokenization efforts across structured products, fixed income, and repo financing. As evidence of this commitment, UBS had previously issued a $50 million tokenized fixed-rate note in December 2022, compliant with English and Swiss laws, and digitized on a permission blockchain.
  • The introduction of tokenized securities by BOCI represents a significant step forward for the Chinese financial industry and showcases the growing acceptance of blockchain technology and digital assets. Traditional securities are typically issued and traded using paper-based or centralized electronic systems, which can be cumbersome and time-consuming. By leveraging blockchain technology, BOCI aims to streamline the issuance and trading processes, enhancing efficiency, transparency, and accessibility.

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