![]() The consortium set out to protect investors’ rights throughout the process. Before that, the bank invested in Securitize, a leading tokenization and issuance platform.Īpplications: The hope is to offer infrastructure that enables the seamless and automatic settlement of securities and funds. (MUFG) announced the establishment of its “ST Research Consortium” and its aim to develop next-generation financial transaction services using blockchain technology. Research Began: On November 7th, 2019, Mitsubishi UFJ Financial Group, Inc. View on Security Tokens/ Blockchain: No public comments from the bank about blockchain were found, but in an article about the Bank of China’s related projects, a reporter wrote: “According to statistics, as of the end of September 2019, China Banking and Insurance Trust has cooperated with a number of insurance companies in electronic insurance policy custody, accumulating more than 4 million electronic insurance policies in custody, and has added more than 300,000 new custody per month since the beginning of this year”. Research Began: The Bank of China must have been even more closely prepared than the CCB because they launched its own $2.8 Billion dollar tokenized bond at the beginning of 2020.Īpplications: The Bank of China is using a blockchain-based solution to issue loans to small and micro-sized businesses to support their continued growth in the economy. □□ Bank of China ($3.2 Trillion in AUM) The Chinese Construction Bank announced a halt of its digital bond sale due to heightened scrutiny. View on Security Tokens/ Blockchain: The Chinese government is consistently wavering in its position on digital currencies since its initial banning of Bitcoin. This has led major banks across China to explore security tokens and blockchain applications, including the second-largest bank in the world, China Construction Bank.Īpplications: Most recently, in November 2020, China Construction Bank had announced a partnership with Fusang to tokenize $3 Billion worth of tokenized bonds, but canceled the sale shortly before going live. Research Began: Although the Chinese government has been critical of digital currency, once blanket banning cryptocurrencies in 2017, the recent DCEP initiative from China's national government demonstrates a move towards the acceptance of new financial technology such as digital securities. □□ China Construction Bank ($3.6 Trillion in AUM) The most notable for collectors are the following: 1835 Straight Stem, Curved Stem, Double Bow, Broken Stem, Short Stem, Large Ampersand, 1836 Short Stem, No Stem, Three Short Stems, One Stem, and Three Long Stems.#2. There are several slight variations, especially on the obverse. The reverse has "Bank of Montreal" at the top and "Token" at the bottom. It weighs between 7.9 and 8.6 grams and has a diameter between 27.5 and 28.2 mm. The second variation has a plain edge, dentils, and a copper composition. On the reverse, "Bank Token" is at the top and "Montreal" at the bottom. It weighs between 7.9 and 9.0 grams and has a diameter between 27.4 and 28.2 mm. The first variation has a plain edge, dentils, and a one hundred percent copper composition. On the reverse, a wreath creates a semi-circle that surrounds the denomination inscription "Un Sous." ![]() The Lower Canada Un Sou Token's obverse features a bouquet of roses and Canadian wildflowers tied with a ribbon at the bottom. ![]() This decision proved beneficial as foreign counterfeits entering Canada with the proper grammar "Un Sou" were easily detectable.Īlthough the Bank of Montreal Un Sous token production occurred only between 18, the coins circulated until after Confederation, when Canada issued its first official currency. ![]() The first tokens' inscriptions, "Un Sous," should show the singular coin's denomination, "Un Sou." Despite the mistake, the bank decided to retain the grammatical error to avoid confusion. However, they were most likely produced in a mint in an English-speaking country. The production location of Un Sou tokens remains uncertain. The BMO created several tokens throughout the pre-confederate era, but the Un Sou entered the market first. In 1835, bank officials decided to tackle Lower Canada's currency issue by developing independent bank tokens. The continued success of the institution allowed the BMO's expansion in Canada and foreign markets. In 1822, the Bank of Montreal changed from a private institution to a public one with 144 shareholders. In the early 19th century, settlers used several different foreign coins, local paper bills, and merchant tokens as currency. The lack of consistent currency plagued Lower Canada, negatively impacting local economies, trade, and commerce operations. In 1817, several merchants, united by a vision for Lower Canada's economy, founded the Bank of Montreal. ![]()
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