Amid chaos between the US Securities and exchange commission and two major crypto exchanges Binance and Coinbase, Bank of China's investment banking arm (BOCI) today issued the couthe country'stokenized security on the Inhereum blockchain.

BOCI in collaboration with UBS, a financial advice and solutions provider just issued CNH 200million digital structured notes, an equivalent of $28 million. This makes BOCI the first Chinese institution to offer a tokenized security in Hong Kong.

The product was originally created by UBS and has been issued to its clients in Asia Pacific. UBS in December 2022 issued a $50 million tokenized fixed rate note under English and Swiss law, digitized on a permissioned blockchain.

This is a unique product in the Asia Pacific region, incorporating both Hong Kong and Swiss legal frameworks and being tokenized on the renowned Ethereum blockchain. It proudly demonstrates a successful integration of regulated securities onto a transparent and accessible public blockchain platform.

“BOCI is very pleased to be at the forefront of innovation in technology finance and digital finance...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.

Per Ms Ying Wang, Deputy CEO at BOCI

This event comes days after China released a whitepaper for the development of a metaverse, while the sec is chasing crypto exchanges in the US for listing unregistered securities, China seems to be embracing the innovation and making regulations to accommodate.