Singapore-based Oversea-Chinese Banking Corporation (OCBC Bank) will offer tokenized equity-linked structured notes to accredited investors, in a partnership with private market exchange ADDX.
See related article: Tokenization is changing the world, from finance to art
Fast facts
- The equity-linked structured notes, also called fixed coupon notes, offer regular fixed interval distributions and provide investors with a tokenized avenue for investing in financial securities, the bank said in a statement Tuesday.
- The structured note is linked to a U.S.-listed technology firm and available for eligible investors on the ADDX exchange, with a minimum investment requirement of US$50,000. The tech company remains undisclosed due to “market sensitivities,” an ADDX spokesperson told Forkast in a text message.
- The note launched on May 10 and is the first tie-up between the two Singapore-based entities.
- “This is but the start of a wider partnership that will leverage ADDX’s expertise in alternative investments and OCBC Bank’s wealth management capabilities to provide investors with unique investment opportunities,” Oi-Yee Choo, chief executive officer of ADDX, said in the statement.
- OCBC, established in 1932, is the second-largest bank in Singapore with a market capitalization of US$41.81 billion as of March 31 this year, according to S&P Global.
- ADDX, a market service provider approved by the Monetary Authority of Singapore, serves investors across 39 countries with net personal assets of over S$2 million (US$1.48 million).
See related article: Singapore’s ADDX to include crypto assets in determining eligibility for private market investments
