OSL Completes First Tokenized Warrant Transaction with UBS
OSL Digital Securities, one of Hong Kong’s licensed crypto exchanges, has announced the successful completion of the first transaction involving the UBS pilot investment-grade tokenized warrant. The transaction took place in Hong Kong and featured an equity-linked call warrant token issued on the Ethereum blockchain by UBS to OSL.
“We are simulating the whole product life cycle of an equity-linked structured product token, from token mint, through simulated secondary market transactions, and finally to token burn at maturity.”
– Patrick Pan, Chairman and CEO at OSL Group.
According to Winni Cheuk, head of sales at UBS Global Markets, blockchain-issued warrants offer increased transparency and reduced transaction fees. This allows for more flexible trading hours. Both OSL and UBS are planning to further explore the use cases of blockchain technology in order to revolutionize digital financial product issuance and distribution in Asia.
OSL was established in 2018 as the first crypto exchange platform to receive a virtual asset trading license from Hong Kong’s Securities and Futures Commission. This recent development follows UBS’s initiative to allow wealthy clients in Hong Kong access to three crypto exchange-traded funds (ETFs), indicating a growing acceptance of digital assets in traditional financial markets.
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