BOCI issues tokenized notes on Ethereum

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By Degen Lipsa

On the primary Ethereum blockchain in Hong Kong, BOCI, the investment banking division of the Bank of China, has released a tokenized security.

UBS created and placed 200 million CNH worth of completely digital structured notes through BOCI for its clients in the Asia Pacific region.

A $50 million tokenized fixed rate note that was digitised on a permissioned blockchain and issued by UBS in December in accordance with English and Swiss legislation.

With the most recent transaction, regulated securities were successfully added to a public blockchain for the first time in Asia Pacific. This product was created under Hong Kong and Swiss legislation and tokenized on the main Ethereum network.

According to Ying Wang, deputy CEO of BOCI,

“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, specifically designed for customers in Asia Pacific.”

According to Aurelian Troendle, global head of MTN Trading at UBS, “high-frequency issuance activity can benefit from vast efficiency gains through the use of blockchain technology, which will ultimately bring advantages to investors.”

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