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Ethereum-Based $28M Digital Structured Notes Launched by Bank of China's BOCI

Ethereum-Based $28M Digital Structured Notes Launched by Bank of China's BOCI

This development marks the first instance of a Chinese financial establishment issuing a tokenized security in Hong Kong.

BOCI, the Bank of China's investment banking subsidiary, has rolled out $28 million (200 million Chinese yuan) worth of digital structured notes via Ethereum's blockchain

It is worth noting that the issuance was conducted in collaboration with investment banking firm UBS. Based on the announcement shared on June 12th, USB helped to create the product and "placed <it> to its clients in Asia Pacific."

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Ying Wang, the deputy CEO of BOCI, expressed the initiative's objective by saying:

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.

China's special administrative region Hong Kong has been actively working toward making the area a crypto hub. On June 1st, regulators in Hong Kong allowed crypto exchanges to offer services for retail users.

Thus, following the escalating regulatory scrutiny in the US, a Legislative Council member, Johnny Ng, invited crypto exchanges to join the administrative region, citing support for "all global virtual asset trading operators."

Later on, Joseph Chan Ho-lim, the under-secretary for financial services and the treasury for the Hong Kong government, revealed that Hong Kong is "actively participating" in the blockchain industry. Chan Ho-lim added that plans are underway to set up a stablecoin regulation framework within a year.

Gile K., Market Sentiment Analyst
Gile is a Market Sentiment Analyst who understands what public events may form what emotions. Her experience researching Web3 news and public market messages – including cryptocurrency news reports, PRs, and social network streams – is critical to her role in helping lead the Crypto News Editorial Team.
As an intelligent professional in public relations, together with the team, she aims to determine real VS fake news patterns, and bring her findings to anyone searching for unbiased news and events happening in the FinTech markets. Her expertise is uncovering the latest trustworthy & informative Web3 announcements to the masses.
When she's not researching the trustworthiness of mainstream stories, she spends time enjoying her terrace view and taking meticulous care of her outdoor environment.



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