First tokenized UBS warrant transaction on Ethereum successfully carried out by OSL

OSL, one of Hong Kong’s two licensed cryptocurrency exchanges, has successfully completed the first tokenized warrant transaction with UBS, according to a press release from OSL Digital Securities. The transaction involved an equity-linked call warrant token issued on the Ethereum blockchain by UBS to OSL. Winni Cheuk, head of sales at UBS Global Markets, commented that blockchain-issued warrants increase transparency and reduce transaction fees, allowing for more flexible trading hours. Both companies are now looking to explore more use cases for blockchain technology and leverage its potential in the digital financial product issuance and distribution in Asia. OSL, established in 2018, was the first crypto exchange platform to receive a virtual asset trading license from Hong Kong’s Securities and Futures Commission. This development follows UBS’s recent move to allow wealthy clients in Hong Kong to access three crypto exchange-traded funds (ETFs), highlighting the growing acceptance of digital assets in traditional financial markets.