Bank of China Int'l Holdings issues first tokenised notes in Hong Kong

The product was derived from UBS, to which it marketed to its APAC clients.

The Bank of China International Holdings (BOCI) issued its first digital structured notes worth about $27.9m (CNH200m), UBS said in a statement.

This makes BOCI the first Chinese financial institution to do so in Hong Kong.

UBS originated the product and distributed it to clients in the Asia Pacific region, reflecting the ongoing collaboration between BOCI and UBS in the digital structured notes arena.

In December 2022, UBS issued a $50m tokenised fixed rate note under English and Swiss law, utilising a permissioned blockchain for digitisation.

These digital securities represent significant advancements for both BOCI and UBS in terms of legal frameworks and blockchain technology.

ALSO READ: Fubon Bank, blockchain firm Ripple to explore real estate asset tokenisation in Hong Kong

The UBS said the transaction stands as the first of its kind in the Asia Pacific region, combining Hong Kong and Swiss law while tokenising the assets on the Ethereum blockchain.

By introducing regulated securities onto a public blockchain, they have achieved a notable milestone.

UBS is also actively expanding its tokenisation services, known as UBS Tokenise, to encompass structured products, fixed income, and repo financing. This demonstrates UBS's commitment to further developing its tokenisation offerings across multiple financial sectors.

(CHH1.00 = $0.14)

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