1. BITBILIHome
  2. Article

BOCI launches China’s first tokenized security on Ethereum

• 31 views

TL;DR Breakdown

  • BOCI issues CNH 200 million digital structured notes in Hong Kong, a first for China.
  • UBS collaborates with BOCI, continuing its work in digital structured notes.
  • The tokenized security was issued on the main Ethereum blockchain, marking a significant move to public blockchain.

BOCI, Bank of China’s investment banking subsidiary, has etched its name into the annals of the financial industry by launching China’s inaugural tokenized security in Hong Kong.

The innovative issue, valued at CNH 200 million, comprises fully digital structured notes and highlights BOCI’s relentless drive to capitalize on modern technology, thus steering the financial sector closer towards a promising digital future.

BOCI’s leap towards digital transformation

BOCI’s introduction of the digital structured notes underscores its commitment to technological advancements and digital finance. With a diverse clientele and an extensive array of products, BOCI is well-known for its innovative streak, particularly in issuing structured notes overseas.

This move to digitalize securities marks an important milestone in the bank’s relentless pursuit of product innovation.

The new tokenized security is not only a triumph for BOCI but also for the collaborative efforts of BOCI and UBS. As part of a longstanding association, UBS has played a pivotal role in originating the product and successfully placed it among its clients in the Asia Pacific.

This union reaffirms both financial institutions’ commitment to simplifying digital asset markets and products.

UBS, a trailblazer in the digital finance sector, had previously issued a USD 50 million tokenized fixed rate note in December 2022 under English and Swiss law. Now, working alongside BOCI, it is taking tokenization a step further by introducing the concept to a public blockchain network.

This transaction represents the first-ever tokenized product in the Asia Pacific constituted under Hong Kong and Swiss law on the main Ethereum blockchain. The successful move of regulated securities onto a public blockchain is a testament to the transformative potential of blockchain technology.

UBS continues to build on its tokenization services through its platform, UBS Tokenize. This platform offers structured products, fixed income, and repo financing.

By integrating blockchain technology into high-frequency issuance activity, UBS aims to significantly boost efficiency, a move that will undoubtedly benefit investors.

The future of finance in a digital economy

BOCI’s achievement in launching the first Chinese tokenized security signifies a transformative shift in Hong Kong’s financial industry. It serves as a powerful indicator of Hong Kong’s rapidly evolving digital economy.

By staying at the forefront of technological advances, BOCI is demonstrating its unwavering commitment to fostering innovation and digital transformation in the city’s financial sector.

The issuance of China’s first tokenized security has far-reaching implications for the financial landscape of the country and the Asia Pacific region. As both BOCI and UBS continue to champion digital finance, there are likely to be more groundbreaking innovations in the pipeline.

The integration of blockchain technology into the financial sector marks the dawn of a new era, one where digitalization holds the key to the industry’s future growth and prosperity.

Disclaimer: The information provided is not trading advice. Cryptopolitan.com holds no liability for any investments made based on the information provided on this page. We strongly recommend independent research and/or consultation with a qualified professional before making any investment decision.

文章来源于互联网:BOCI launches China’s first tokenized security on Ethereum

Disclaimers:

1. You are solely responsible for your investment decisions and this info is not liable for any losses you may incur.

2. The copyright of this article belongs to the writer, it represents the writer's opinions only, not represents the site's ones. Not financial advice.

Previous 2023年6月15日 15:19
Next 2023年6月15日 16:39

Related articles

  • Mike Novogratz’s Ideal Portfolio for High-Risk Tolerance Investors 

    TL;DR Breakdown Mike Novogratz recommends a high-risk portfolio for young investors, comprising Alibaba, silver, gold, Bitcoin, and Ethereum to capitalize on potential growth opportunities. BlackRock CEO Larry Fink’s endorsement of Bitcoin and the Ripple case verdict’s impact underscores the need for clear cryptocurrency regulations in the market. Description Renowned investor and founder of Galaxy Digital, Mike Novogratz, recently provided insights into his ideal investment portfolio for young investors with a high-risk tolerance during an exclusive interview with Bloomberg Wealth. Novogratz’s recommended portfolio combines traditional and digital assets, aiming to capitalize on potential growth opportunities in the global markets. With a focus on Chinese … Read more Renowned investor and founder of Galaxy Digital, Mike Novogratz, recently provided insights into his ideal investment portfolio for young investors with a high-risk tolerance during an exclusive interview with Bloomberg Wealth. Novogratz’s recommended portfolio combines traditional and digital assets, aiming to capitalize on potential growth opportunities in the global markets. With a focus on Chinese e-commerce giant Alibaba, precious metals like silver and gold, and leading cryptocurrencies Bitcoin and Ethereum, Mike Novogratz suggests an…

    Article 2023年7月31日

  • Stablecoin issuers spending Millions on secret lobbying exposed

    TL;DR Breakdown The focus on stablecoins in Washington, D.C. has intensified as pressure mounts to establish a regulatory framework for these digital assets pegged to the U.S. dollar. Since the beginning of 2022, Tether has spent approximately $600,000 on lobbying the U.S. Senate and House of Representatives, with quarterly spending of $120,000.  Circle initiated lobbying activities with strategic consulting firm Invariant in late 2021 and has spent a minimum of $560,000 since then. Paxos, the former issuer of the Binance stablecoin BUSD, has allocated approximately $300,000 to lobbying efforts since early 2022.  Stablecoin issuers such as Tether, Circle, and others have invested significant amounts of money in lobbying efforts on Capitol Hill since the start of 2022, according to recent data. The focus on stablecoins in Washington, D.C. has intensified as pressure mounts to establish a regulatory framework for these digital assets pegged to the U.S. dollar. Tether has utilized the law offices of Michael Jason Lee and engaged the services of FTI Government Affairs, a consulting firm with bipartisan connections, for its lobbying activities. Since the beginning of 2022,…

    Article 2023年5月20日

  • Why central banks are struggling with wage growth

    TL;DR Breakdown Central banks worldwide are grappling with the challenge of wage growth. Mixed signals from price movements and economic activity are creating policy uncertainty. The Federal Reserve, Bank of England, and European Central Bank have made contrasting decisions recently, reflecting varied concerns and interpretations. Description In the turbulent landscape of economic management, wage growth is proving to be the thorn in the side of central banks worldwide. Three major banks, each holding immense sway over global financial health, recently made policy decisions that left many scratching their heads. The conflicting actions were a culmination of nuanced factors and challenges in … Read more In the turbulent landscape of economic management, wage growth is proving to be the thorn in the side of central banks worldwide. Three major banks, each holding immense sway over global financial health, recently made policy decisions that left many scratching their heads. The conflicting actions were a culmination of nuanced factors and challenges in interpreting the pulse of contemporary economies. A Tug-of-War Between Rates and Reality The Federal Reserve, for instance, kept its policy rate…

    Article 2023年9月26日

  • John Reed Stark highlights SEC-DOJ disparity in crypto enforcement

    TL;DR Breakdown Former SEC official John Reed Stark expresses concern over DOJ’s inaction in crypto cases. Stark highlights the disparity between the SEC’s frequent actions and the DOJ’s rare criminal probes. Gemini’s leader, Tyler Winklevoss, dismisses the charges as trivial and compares them to parking tickets. Description John Reed Stark, a former official of the Securities and Exchange Commission (SEC), voiced his perplexity over the seeming inaction of the U.S. Department of Justice (DOJ) in cryptocurrency-related cases. With his extensive experience spanning nearly two decades in the SEC Division of Enforcement, Stark finds the scarcity of DOJ cases associated with Bitcoin notably … Read more John Reed Stark, a former official of the Securities and Exchange Commission (SEC), voiced his perplexity over the seeming inaction of the U.S. Department of Justice (DOJ) in cryptocurrency-related cases. With his extensive experience spanning nearly two decades in the SEC Division of Enforcement, Stark finds the scarcity of DOJ cases associated with Bitcoin notably unusual. Stark’s concerns revolve around the apparent disparity in the enforcement actions undertaken by the SEC and the infrequent criminal…

    Article 2023年9月25日

  • The secret to successfully integrating crypto as a payment method

    Description When it comes to financial innovation, Deloitte, a global leader in professional services, recently delivered insights on a hot topic—cryptocurrency. As they put it, the integration of crypto into your business isn’t simply a matter of riding the wave of modernity. It is about strategic alignment, meticulous planning, and, above all, transparency. So, what is … Read more When it comes to financial innovation, Deloitte, a global leader in professional services, recently delivered insights on a hot topic—cryptocurrency. As they put it, the integration of crypto into your business isn’t simply a matter of riding the wave of modernity. It is about strategic alignment, meticulous planning, and, above all, transparency. So, what is the secret to successfully integrating crypto as a payment method? Let’s unravel this mystery. Businesses across the globe are finding themselves at a financial frontier that is daring yet promising. Cryptocurrency, that digital wildcard, has arrived at the corporate world’s doorsteps, and its integration is no longer a question of if but how. As per Deloitte’s report, the journey to successful integration starts with a thorough…

    Article 2023年7月21日
TOP