Today SBI Digital Markets (SBIDM) announced a collaboration with Switzerland’s CAT Financial Products (CATFP), which operates a structured products technology platform and is also an issuer. CATFP has worked with asset managers, banks and institutional investors since 2008. SBI Digital Markets is part of SBI Digital Asset Holdings and provides tokenization, digital asset custody and advisory services.
The two parties want to work together on issuing and distributing structured products between Switzerland and Asia.
Stepping back, structured products tend to be bespoke securities, often with derivative-like features. They have low margins and are commoditized. Hence, issuance efficiencies are critical. Since the Deutsche Börse launched its digital securities issuance platform D7, it has primarily been used for structured product issuances at scale – 15,000 in the last few months. The reason is the issuance efficiencies. HSBC has also explored blockchain for structured products as part of Project Guardian.
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