The product, which utilises the on-chain issuance product framework offered by UBS Tokenize, is a call warrant with Xiaomi Corporation as the underlying stock. Billed by the bank as the "first natively issued warrant on a public blockchain" the warrant was sold to OSL Digital Securities Limited, a licensed virtual asset platform operator.Winni Cheuk, head of sales, Apac public distribution, UBS Global Markets says: "Created natively on a public blockchain in a permissioned environment, this innovative product enhances transparency, reduces transaction fees, streamlines settlement processes, and allows for more flexible trading hours.”UBS Tokenize is part of the Swiss bank’s ongoing work in tokenization services and distributed ledger technology. It supports opportunities across origination, distribution, and custody, initially focusing on tokenization of bonds, funds, and structured products. In 2022, the bank used the platform to issue the first ever $50 million tokenized fixed rate note sold to Asia Pacific clients.