UBS Wealth Issues Blockchain Digital Debt

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Today’s Cryptocurrency Headline

UBS Wealth Management announced it issued $50 million in blockchain-based debt securities to high-net-worth individuals, with investors in Hong Kong and Singapore buying the six-month fixed-rate security token through a private placement. UBS’s London office issued the securities under British and Swiss law and said it would explore third-party issuers in the future. The project used a permissioned version of Ethereum.

BingX’s Bitcoin Chart

Source: TradingView & BingX

According to CoinShare, digital asset investment products saw outflows totalling US$30m last week. Bitcoin saw outflows totalling US$17.5m, while short-bitcoin investment products saw minor inflows totalling US$1.1m. Bitcoin price was almost flat over the past 24 hours and is still unable to reclaim the $17,000 price level. The 20-day EMA has started to turn down and the RSI has dipped below 45, indicating that bears are in command. The BTC/USDT pair is likely to stay in the $16,000-$17,000 price zone until the holiday season is over.

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