On June 12, 2023, BOC International Holdings Limited (BOCI), a subsidiary of the Bank of China, mentioned that it would circulate about 200 million Chinese yuan ($28 million), stated Cointelegraph. It is expected that their worth is equal to the digitally structured notes present on the Ethereum blockchain.
“Working together with UBS, an Investment banking platform, 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, BOCI, explained.
Sources revealed that UBS, an Investment banking platform, had also increased their tokenisation among other products, fixed income and repo financing. Supposedly, UBS had issued a $50 million tokenised fixed-rate note in December 2022 following the English and Swiss law and digitised on a legal blockchain, Cointelegraph added.
Furthermore, Hong Kong had started giving access to crypto exchange for retail users on June 1, 2023, Cointelegraph concluded.
(With insights from Cointelegraph)
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