The Hong Kong arm of Mirae Asset Securities announced its first tokenized structured product as part of a larger $3 billion guaranteed structured product program. Singapore’s Marketnode acted as distribution partner for the private placement to eligible institutional investors.
The six month floating rate notes are denominated in US dollars and issued out of Hong Kong, with the size of the issuance reported as $12.5 million. The company described this as a demonstration of how “established structured products can be extended into digitally native distribution.”
Marketnode, whose backers include Euroclear, HSBC, SGX and Temasek, has acted as tokenization partner for similar issuances, such as HSBC’s first digitally native structured product earlier this year. However, in this case Mirae Asset Securities was the one to tokenize the product, using its proprietary digital infrastructure with Solana as the chosen chain. The involvement of the Solana Foundation means this was more than just a casual blockchain selection.
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