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Revealed: February 07, 2024 at 9:49 am Up to date: February 07, 2024 at 9:49 am
Edited and fact-checked:
February 07, 2024 at 9:49 am
In Transient
UBS AG unveiled Hong Kong’s inaugural investment-grade tokenized warrant on the Ethereum public blockchain community.
Switzerland common financial institution UBS AG introduced the launch of Hong Kong’s first-ever investment-grade tokenized warrant on the Ethereum public blockchain community. In keeping with the announcement, the product makes use of the on-chain issuance product framework provided by UBS Tokenize, the financial institution’s in-house tokenization service.
The product is a name warrant with Xiaomi Company because the underlying inventory. It’s the primary natively issued warrant on a public blockchain and was bought to OSL Digital Securities Restricted.
“The introduction of the UBS tokenized warrant reinforces the financial institution’s place because the main spinoff merchandise issuer in Hong Kong1. Created natively on a public blockchain in a permissioned surroundings, this revolutionary product enhances transparency, reduces transaction charges, streamlines settlement processes, and permits for extra versatile buying and selling hours,” mentioned Winni Cheuk, head of gross sales, APAC Public Distribution at UBS International Markets.
Tokenized warrants have a number of advantages, together with improved accessibility, effectivity, and transparency. Tokenization opens new avenues for buyers to entry digitally structured merchandise, whereas blockchain expertise permits higher accessibility and extends buying and selling hours.
Good contracts streamline buying and selling processes, decrease dealing with prices and improve effectivity in comparison with conventional channels. Furthermore, blockchain expertise ensures transparency by storing all transactions and possession information on a decentralized ledger.
UBS Advances International Tokenization and Distributed Ledger Tech
UBS Tokenize is a part of their ongoing work in tokenization providers and globally distributed ledger expertise, specializing in varied digital asset alternatives, together with bonds, funds, and structured merchandise. In 2022, UBS issued the first-ever USD 50 million tokenized mounted price observe bought to Asia Pacific shoppers by means of the UBS Tokenize platform.
This launch represents UBS’s ongoing effort to advance its tokenization providers, constructing upon its exploration of digital asset alternatives since 2015.
“OSL is proud to be working with the crew of blockchain and product consultants at UBS. We’re simulating the entire product life cycle of an equity-linked structured product token, from token mint by means of simulated secondary market transactions, and eventually to token burn at maturity,” mentioned Patrick Pan, chairman and CEO at OSL Group.
“Hong Kong’s regulated digital asset panorama has simply crossed one other main milestone with this Funding grade tokenized monetary product issuance,” Pan added.
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About The Creator
Kumar is an skilled Tech Journalist with a specialization within the dynamic intersections of AI/ML, advertising and marketing expertise, and rising fields reminiscent of crypto, blockchain, and NFTs. With over 3 years of expertise within the trade, Kumar has established a confirmed monitor file in crafting compelling narratives, conducting insightful interviews, and delivering complete insights. Kumar’s experience lies in producing high-impact content material, together with articles, studies, and analysis publications for outstanding trade platforms. With a singular talent set that mixes technical data and storytelling, Kumar excels at speaking advanced technological ideas to numerous audiences in a transparent and interesting method.
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Kumar is an skilled Tech Journalist with a specialization within the dynamic intersections of AI/ML, advertising and marketing expertise, and rising fields reminiscent of crypto, blockchain, and NFTs. With over 3 years of expertise within the trade, Kumar has established a confirmed monitor file in crafting compelling narratives, conducting insightful interviews, and delivering complete insights. Kumar’s experience lies in producing high-impact content material, together with articles, studies, and analysis publications for outstanding trade platforms. With a singular talent set that mixes technical data and storytelling, Kumar excels at speaking advanced technological ideas to numerous audiences in a transparent and interesting method.