Today Singapore’s OCBC Bank and blockchain digital asset marketplace ADDX announced a long term partnership. The first product involved OCBC issuing a tokenized equity-linked structured note to accredited investors. OCBC is Singapore’s second largest bank.
Kenneth Lai, OCBC’s Head of Global Treasury, commented on the partnership, “we are hopeful that it will lead to more diverse product offerings that are relevant and appealing to the global accredited investor base of ADDX.”
The three month note gives a fixed coupon and is based on the equity of an un-named US BigTech. These notes enable investors to benefit from the price movement in the equity and additionally receive an additional cash flow.
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