On Friday, UBS Wealth Management announced it issued $50 million in blockchain-based debt securities to high net worth individuals (HNWIs). Hong Kong and Singapore investors bought the six month, fixed-rate security tokens via a private placement.
“We registered strong interest for this inaugural issue from regional high net worth individuals and family offices, which underscores their interest in digital securities,” said Amy Lo, co-head of UBS Global Wealth Management APAC.
The London office of UBS issued the securities under English and Swiss law. While UBS is the issuer, it will explore third-party issuers in the future. The project used a permissioned version of Ethereum.
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