BOCI Issues First Tokenized Notes By UBS To Hong Kong Clients

Here we have it: the very first Chinese financial institution to issue a tokenized security in Hong Kong – BOCI has successfully issued CNH 200 million fully digital structured notes. The product has been originated by UBS and placed to the clients in Asia Pacific.

This is how the new collab between BOCI and UBS begins in the space of digitally structured notes.

UBS has issued a USD 50 million tokenized fixed rate note in December 2022 under English and Swiss law, digitized on a permissioned blockchain.

According to the official notes about the matter, by issuing these digital securities, both BOCI and UBS have taken some brand new steps in terms of applicable law and blockchain types.

“This transaction marks the first product of its kind in the Asia Pacific constituted under Hong Kong and Swiss law and tokenized on the main Ethereum blockchain, successfully introducing regulated securities onto a public blockchain,” UBS.com notes.

UBS.com notes the fact that as an overseas investment banking institution of the BOC Group, BOCI has a pretty vast history regarding serving various types of clients through continuous product innovation.

According to the official website, BOCI was the first Chinese financial institution to issue structured notes overseas. It is also important to mention the fact that now, BOCI is a leading Chinese issuer with a full range of products, large volume of issuance and complete services to its clients.

“BOCI is very pleased to be at the forefront of innovation in technology finance and digital finance,” said Ms Ying Wang, Deputy CEO at BOCI.

She continued and explained the following:

”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, designed specifically for customers in Asia Pacific.”

She also stated that what encourages them is the evolution of Hong Kong’s digital economy. They plan to promote the digital transformation and innovative development of Hong Kong’s financial industry.