Linklaters has advised on the Hong Kong law aspect of the successful issuance of RMB200m (approximately US$28m) fully digital structured notes issued by Bank of China International Holdings (BOCI). Acting as the dealer and blockchain administration agent, UBS placed the digital structured notes to its clients in the Asia Pacific.
These digital securities are tokenised on the Ethereum platform, thereby successfully introducing regulated securities in Hong Kong SAR onto a public blockchain. This is also the first product of its kind in the region constituted under Hong Kong and Swiss law.
This transaction not only marks BOCI as the first Chinese financial institution to issue a tokenised security in Hong Kong SAR but also signifies another step towards the wider development of the city as a virtual asset trading hub.
The Linklaters team was led by capital markets partners Chin-Chong Liew and Jonathan Horan. Philip Spoerlé of Niederer Kraft Frey advised on the Swiss law aspect of this issuance.
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