Add as a preferred source on GoogleGrvt Subscribes to Tokenized Funding Notes Arranged by Mirae Asset
Grvt intends to use the resulting exposure in connection with Grvt Earn, subject to applicable requirements; the parties did not disclose the issuer or deal size.
Mirae Asset Securities (HK) Limited arranged tokenized funding notes that Grvt subscribed to, with Grvt intending to use its resulting exposure in connection with Grvt Earn.
The firms announced the transaction Oct. 27. The issuer, issuance size, Grvt’s subscription amount, the notes’ maturity and the blockchain were not disclosed.
Grvt operates Earn independently and will determine and manage its use of the exposure, subject to applicable requirements. Earn is available only to eligible users in permitted jurisdictions, and its yields vary and are not guaranteed.
Grvt holds no license or registration from Hong Kong’s Securities and Futures Commission (SFC). Grvt Earn is not available for public use in Hong Kong and lacks authorization from the SFC.
“This issuance marks a step forward in our digital asset strategy,” said Kelly Sohn, head of digital assets at Mirae Asset Securities (HK) Limited.
The companies also plan to explore tokenized Treasuries, corporate bonds and exchange-traded funds. The work is exploratory and noncommittal, subject to regulatory requirements and product and compliance clearance.
John Kim
John Kim reports on the digital-asset business for TokenPost. Send corrections or tips to info@tokenpost.com.