Printed: February 7, 2024 9:49 Up to date: February 7, 2024 9:49
Edited and truth checked: February 7, 2024 9:49am
Put merely
UBS AG declares Hong Kong's first investment-grade tokenized warrants on the Ethereum public blockchain community.
Swiss common financial institution UBS AG has introduced the launch of Hong Kong's first investment-grade tokenized warrants on the Ethereum public blockchain community. In line with the announcement, the product leverages the on-chain issuance product framework supplied by UBS Tokenize, the financial institution's in-house tokenization service.
This product is a name warrant whose underlying inventory is Xiaomi Company. That is the primary warrant issued natively on a public blockchain and was offered to OSL Digital Securities Restricted.
“The introduction of UBS Tokenized Warrants strengthens the Financial institution's place as a number one derivatives product issuer in Hong Kong1. This progressive product, created natively on a public blockchain in a permissioned setting, , rising transparency, decreasing buying and selling charges, streamlining the fee course of and enabling extra versatile buying and selling instances,” stated Winni Cheuk, Head of Gross sales, APAC Public Distribution, UBS International Markets. Masu.
Tokenized warrants provide a number of advantages, together with elevated accessibility, effectivity, and transparency. Tokenization opens new avenues for traders to entry digitally structured merchandise, and blockchain know-how improves entry and extends transaction instances.
Sensible contracts streamline the transaction course of, cut back processing prices, and improve effectivity in comparison with conventional channels. Moreover, blockchain know-how ensures transparency by storing all transactions and possession data on a distributed ledger.
UBS advances world tokenization and distributed ledger know-how
UBS Tokenize is a part of our ongoing efforts in tokenization companies and globally distributed ledger know-how, specializing in quite a lot of digital asset alternatives akin to fastened revenue, funds, and structured merchandise. In 2022, UBS issued its first-ever US$50 million tokenized fastened revenue bond, which was offered to purchasers in Asia Pacific by means of the UBS Tokenize platform.
This launch represents UBS's continued efforts to advance its tokenization companies, constructing on its exploration of digital asset alternatives since 2015.
“OSL is proud to collaborate with the staff of blockchain and product specialists at UBS.” Patrick Pan, Chairman and CEO of OSL Group, stated, “OSL is proud to collaborate with UBS's staff of blockchain and product specialists. “We’re simulating the whole product lifecycle of an equity-linked structured commodity token, from simulating secondary market buying and selling to finally burning the token at maturity.”
“Hong Kong's regulated crypto asset setting has simply handed one other main milestone with the issuance of this investment-grade tokenized monetary product,” Pang added.
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Concerning the creator
Kumar is an skilled know-how journalist specializing within the dynamic intersection of AI/ML, advertising know-how, and rising fields akin to cryptocurrencies, blockchain, and NFTs. With over three years of expertise within the business, Kumar has established a confirmed observe file in crafting compelling tales, conducting insightful interviews, and offering complete perception. Kumar's experience lies in creating high-impact content material, together with articles, reviews, and analysis publications for distinguished business platforms. With a singular skillset that mixes technical information and storytelling, Kumar excels at speaking advanced technical ideas in a transparent and fascinating method to various audiences.
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Kumar is an skilled know-how journalist specializing within the dynamic intersection of AI/ML, advertising know-how, and rising fields akin to cryptocurrencies, blockchain, and NFTs. With over three years of expertise within the business, Kumar has established a confirmed observe file in crafting compelling tales, conducting insightful interviews, and offering complete perception. Kumar's experience lies in creating high-impact content material, together with articles, reviews, and analysis publications for distinguished business platforms. With a singular skillset that mixes technical information and storytelling, Kumar excels at speaking advanced technical ideas in a transparent and fascinating method to various audiences.
