The Bank Of China Just Issued Ethereum Assets Worth $28 Million via ForbesCrypto
... [+]blockchain is a significant development that has been met with both applause and skepticism. This move, the first of its kind by a Chinese financial institution, signals a potential shift in China's stance towards public blockchain-based digital assets.
The deputy CEO of BOCI, Ying Wang, expressed optimism about the development, stating that they are"driving the simplification of digital asset markets and products, for customers in Asia Pacific through the development of blockchain-based digital structured products." This move is part of a broader trend, with UBS expanding its tokenization across structured products, fixed income, and repo financing.
China has a complex relationship with cryptocurrencies and blockchain technology. On one hand, it has been cracking down on cryptocurrencies, citing concerns over financial stability and capital flight. On the other hand, it has been promoting the use of blockchain technology for various applications, including the development of the Blockchain Service Network , which is positioned itself as the default national blockchain in mainland China.
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