OSL, a Hong Kong-licensed digital asset platform, has efficiently executed the primary transaction of a tokenized warrant issued by UBS in Hong Kong.
This occasion marks a milestone in integrating conventional finance and blockchain expertise. The transaction was carried out on the Ethereum blockchain.
“This initiative serves as a strong demonstration of a real-world use case of blockchain applied sciences. Along with UBS, we hope to leverage blockchain to open one other new chapter in digital monetary product issuance and distribution in Asia, showcasing the transformative potential of this expertise,” said Patrick Pan, chief government of OSL Group.
The investment-grade tokenized warrant represents a brand new frontier for monetary devices, combining the regulatory compliance and safety of conventional banking with the effectivity and transparency of blockchain.
The profitable transaction by OSL and UBS is a sign of the evolving panorama of monetary providers, the place digital belongings have gotten more and more mainstream.
Hong Kong opened crypto belongings to most people final summer time by introducing a brand new licensing regime that allows approved service suppliers to supply crypto buying and selling providers to retail buyers.
However up to now, Hong Kong has solely accredited the license to 2 exchanges, OSL and HashKey.
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