The securitized tokens are represented by Hong Kong and Swiss regulations.
On June 12, the Bank of China's venture bank auxiliary BOCI reported the issuance of 200 million Chinese yuan ($28 million) worth of advanced organized notes printed on the Ethereum blockchain. BOCI is the first Chinese financial institution to issue tokenized securities in Hong Kong as a result of this move. Venture banking organization UBS started the position for its client in the Asia-Pacific locale. Comment from BOCI's deputy CEO, Ying Wang:
“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.”
Synchronous to the turn of events, UBS has been growing its tokenization across organized items, fixed pay, and repo support. Under English and Swiss law, the company issued a tokenism fixed-rate note worth $50 million in December 2022, which was digitized on a permissioned blockchain.
Hong Kong opened crypto trade access for retail clients on June 1. Two weeks later, the government of Hong Kong's undersecretary for financial services and the treasury, Joseph Chan Ho-lim, stated that the special administrative region is "actively participating" in the blockchain industry and plans to establish a framework for stablecoin regulation within a year.
On Feb. 16, Hong Kong issued a HK$800 million green security tokenized on Goldman Sachs' tokenization convention, GS DAP, with a yearly yield of 4.05%. Hong Kong introduced two exchange-traded funds for cryptocurrency futures in December 2022. Prior to their launch, the funds raised more than $70 million.
(ZHIYUAN SUN, CoinTelegraph, 2023)