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On June 12, Financial institution of China’s funding financial institution subsidiary BOCI introduced the issuance of 200 million ($28 million) price of digital structured notes minted on the blockchain. The transfer makes BOCI the primary Chinese language monetary establishment to situation a tokenized safety in Hong Kong. Funding banking firm UBS helped originate the product for placement to its consumer within the Asia-Pacific area. Ying Wang, the deputy CEO of BOCI, commented:
Simultaneous to the event, UBS has been increasing its tokenization throughout structured merchandise, fastened earnings and repo financing. The agency issued a $50 million tokenized fixed-rate observe in December 2022 underneath English and Swiss legislation, digitized on a permissioned blockchain.
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