{"id":22135,"date":"2023-06-13T15:34:25","date_gmt":"2023-06-13T19:34:25","guid":{"rendered":"https:\/\/ifintechworld.com\/markets\/crypto\/bank-of-china-uses-ethereum-blockchain-for-28-million-digital-structured-notes-crypto-adoption-on-the-rise\/"},"modified":"2023-06-13T15:34:26","modified_gmt":"2023-06-13T19:34:26","slug":"bank-of-china-uses-ethereum-blockchain-for-28-million-digital-structured-notes-crypto-adoption-on-the-rise","status":"publish","type":"post","link":"https:\/\/ifintechworld.com\/?p=22135","title":{"rendered":"Bank of China Uses Ethereum Blockchain for $28 Million Digital Structured Notes \u2013\u00a0Crypto Adoption on the Rise?"},"content":{"rendered":"
\n

Bank of China’s investment arm BOCI has utilized the Ethereum blockchain network to issue $28 million worth of digital structured notes.\u00a0<\/p>\n

The bank has become the first Chinese institution to issue this type of tokenized security in Hong Kong, global investment bank UBS\u00a0said in a recent press release.\u00a0<\/p>\n

The notes, which were worth CNH 200 million, were initiated by UBS and distributed to clients in the Asia-Pacific region.\u00a0<\/p>\n

This transaction marks the first product of its kind in Asia-Pacific, established under Hong Kong and Swiss law and tokenized on the main Ethereum blockchain.<\/p>\n

\u201dWorking 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,” Ying Wang, Deputy CEO at BOCI, said in a statement.\u00a0<\/p>\n

This follows UBS’ previous efforts to tokenize fixed-rate notes worth $50 million in December 2022 under English and Swiss law.\u00a0<\/p>\n

According to Aurelian Troendle, Global Head of MTN Trading at UBS AG, “High-frequency issuance activity can benefit from vast efficiency gains through the use of blockchain technology, which will ultimately bring advantages to investors.”<\/p>\n

UBS aims to expand its tokenization services across structured products, fixed income, and repo financing, the press release said.\u00a0<\/p>\n

BOCI, a wholly-owned investment bank of the Bank of China, offers clients both domestic and overseas a comprehensive range of investment banking services.\u00a0<\/p>\n

It provides corporate finance, financial advisory, private banking, asset management, direct investment, equity derivatives, leveraged and structured finance, global commodities, and more.\u00a0<\/p>\n

The bank has maintained a leading position in Hong Kong’s IPO, stock trading, bond issuance, and MPF markets and Chinese mainland capital markets for a long time.<\/p>\n

Citi Analysts Believe Tokenization Would Drive Crypto Adoption<\/h2>\n

Analysts at global investment bank Citi\u00a0believe\u00a0that the rise of CBDCs and the tokenization of real-world assets would power the next wave of mass adoption of blockchain technology.\u00a0<\/p>\n

\u201cThis is likely to be driven by the adoption of central bank digital currencies (CBDCs) by large central banks as well as tokenized assets in gaming and blockchain-based payments on social media,\u201d the experts wrote in a report titled \u201cMoney, Tokens, and Games: Blockchain\u2019s Next Billion Users and Trillions in Value.\u201d<\/p>\n

The report estimated that more than $5 trillion of CBDCs could be circulating globally by the end of this decade. This would give almost 2 billion people the opportunity to experiment with digital currency.<\/p>\n

\u00a0<\/p>\n<\/p><\/div>\n

Read the full article here<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Bank of China’s investment arm BOCI has utilized the Ethereum blockchain network to issue $28 million worth of digital structured notes.\u00a0 The bank has become the first Chinese institution to issue this type of tokenized security in Hong Kong, global investment bank UBS\u00a0said in a recent press release.\u00a0 The notes, which were worth CNH 200 […]<\/p>\n","protected":false},"author":1,"featured_media":22136,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[243],"tags":[83],"class_list":["post-22135","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-crypto","tag-featured"],"yoast_head":"\nBank of China Uses Ethereum Blockchain for $28 Million Digital Structured Notes \u2013\u00a0Crypto Adoption on the Rise? | iFintechWorld<\/title>\n<meta name=\"description\" content=\"Bank of China's investment arm BOCI has utilized the Ethereum blockchain network to issue $28 million worth of digital structured notes.\u00a0The bank has\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/ifintechworld.com\/?p=22135\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Bank of China Uses Ethereum Blockchain for $28 Million Digital Structured Notes \u2013\u00a0Crypto Adoption on the Rise? 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