Using the Ethereum public blockchain network, UBS has introduced the first investment-grade tokenized warrant in Hong Kong.
Using the Ethereum public blockchain network, UBS has introduced the first investment-grade tokenized warrant in Hong Kong.
Utilizing UBS Tokenize's on-chain issuance product platform, the product is a call warrant with Xiaomi Corporation's stock serving as the underlying asset. The warrant was sold to OSL Digital Securities Limited, a licensed operator of virtual asset platforms, and was billed by the bank as the "first natively issued warrant on a public blockchain".
"Created natively on a public blockchain in a permissioned environment, this innovative product enhances transparency, reduces transaction fees, streamlines settlement processes, and allows for more flexible trading hours," states Winni Cheuk, head of sales, Apac public distribution, UBS Global Markets.
UBS Tokenize is a component of the Swiss bank's continuous efforts in distributed ledger technology and tokenization services. At launch, it focuses on tokenization of bonds, funds, and structured products, but it also supports opportunities across origination, distribution, and custody. The bank issued the first-ever $50 million tokenized fixed rate note to be sold to clients in Asia Pacific in 2022 via the platform.
Like
Dislike
Love
Angry
Funny
Pray
Super
Juniper leads the way in innovative insurance coverage for reproductive health.
April 12, 2024
Finastra introduces a small business DFA 1071 compliance data gathering module.
April 12, 2024
Comments 0