Bank of China International, in collaboration with UBS, has become the first Chinese financial institution to issue a tokenized security in Hong Kong.
Bank of China International (BOCI) issued 200 million yuan ($28 million) of fully digital structured notes in Hong Kong, according to a statement.
This makes BOC the first Chinese financial institution to issue a tokenized security in the city.
«Long-Term Collaboration«
The product was originated by UBS and placed to its clients in the Asia Pacific region, «marking a long-term collaboration between BOCI and UBS in the space of digital structured notes», BOCI said.
«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,» said BOCI deputy CEO Ying Wang.
In December 2022, UBS’s London branch issued $50 million of tokenized debt securities to high net worth individuals and family offices in Hong Kong and Singapore.
