BoC issues first Eth-based tokenised asset

BOCI, the investment arm of Bank of China, has made a significant stride in Hong Kong by issuing the first-ever tokenised notes in China. In collaboration with UBS, BOCI successfully issued CNH 200 million on the Ethereum blockchain, as reported by UBS. BOCI’s strong presence in Hong Kong’s capital market, coupled with its internationalised framework and comprehensive cross-border services platform, has solidified its position as a prominent Chinese investment bank.

The investment banking services offered by BOCI encompass a wide range of areas, including share issuance, mergers and acquisitions, bond issuance, fixed income, private banking, private equity, global commodities, asset management, equity derivatives, and leveraged financing. This extensive portfolio has contributed to BOCI’s growth and prosperity throughout China’s reforms and opening-up period. Additionally, with the highest corporate credit rating among Chinese investment banks, BOCI has established a solid reputation in the industry.

UBS Group AG, the largest Swiss banking institution and private bank globally, collaborated with BOCI on this groundbreaking project. UBS offers comprehensive financial advice and solutions to corporate, institutional, and wealthy clients worldwide, with a particular focus on private clients in Switzerland.

This landmark tokenised asset marks a significant milestone in the Asia Pacific region, as it is the first product of its kind, compliant with both Hong Kong and Swiss law, and tokenised on the Ethereum blockchain. Ms. Ying Wang, Deputy CEO at BOCI, expressed her delight in championing innovation in technology finance and digital finance, and highlighted the collaboration with UBS as instrumental in driving further development of the digital asset market in the Asia Pacific region.

The Global Head of MTN Trading at UBS also expressed enthusiasm for the partnership with BOCI, emphasising the introduction of a fully regulated product on a public blockchain. The integration of blockchain technology is expected to enhance operational efficiency, offering a competitive advantage to investors and benefiting the company as a whole.