Bank of China investment bank BOCI in Hong Kong spent on Ethereum release tokenization notes in the amount of 200 million yuan ($28 million). The partner was UBS.
“This is the first product of its kind in APRcreated under the laws of Hong Kong and Switzerland […] and introducing regulated securities into the public blockchain,” the press release says.
In December 2022, UBS implemented a similar $50 million initiative on a permissioned blockchain in accordance with English and Swiss law.
UBS will continue to expand its tokenization services to include structured products, fixed income instruments and REPO transactions.
Recall that in July 2022, the Hong Kong-based regulated bitcoin exchange OSL held the placement of bonds denominated in US dollars based on Ethereum.
Then the company noted that the initiative will open the way for the distribution of tokenized securities among licensed financial intermediaries in Hong Kong.
Earlier, Moody’s pointed to the possibility of saving funds and increasing the transparency of their use for municipalities when issuing bonds using the blockchain.
According to Citi analysts, the capitalization of security tokens will reach $4 trillion by 2030.
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Cryplogger Newsletters: Keep your finger on the pulse of the bitcoin industry!
Bank of China investment bank BOCI in Hong Kong spent on Ethereum release tokenization notes in the amount of 200 million yuan ($28 million). The partner was UBS.
“This is the first product of its kind in APRcreated under the laws of Hong Kong and Switzerland […] and introducing regulated securities into the public blockchain,” the press release says.
In December 2022, UBS implemented a similar $50 million initiative on a permissioned blockchain in accordance with English and Swiss law.
UBS will continue to expand its tokenization services to include structured products, fixed income instruments and REPO transactions.
Recall that in July 2022, the Hong Kong-based regulated bitcoin exchange OSL held the placement of bonds denominated in US dollars based on Ethereum.
Then the company noted that the initiative will open the way for the distribution of tokenized securities among licensed financial intermediaries in Hong Kong.
Earlier, Moody’s pointed to the possibility of saving funds and increasing the transparency of their use for municipalities when issuing bonds using the blockchain.
According to Citi analysts, the capitalization of security tokens will reach $4 trillion by 2030.
Found a mistake in the text? Select it and press CTRL+ENTER
Cryplogger Newsletters: Keep your finger on the pulse of the bitcoin industry!