Taiwan's Cathay Securities receives country's first security token offering license for "Sunshine Green Yield" bonds

Cathay Securities has been granted Taiwan's first security token offering (STO) license by the Financial Supervisory Commission (FSC). The STO bonds, called "Sunshine Green Yield," have a maturity of six years, an initial annual interest of 3.5%, and an initial principal amount of 30 million New Taiwan Dollars ($0.93 million). The bonds will allow enterprise owners to purchase green electricity on the market for environmental, social, and corporate governance initiatives under favorable conditions and receive variable interest rate payments of up to 5.8% per year. Trading for the Subshine Green Yield bonds will debut on Dec. 12 on Cathay's in-house STO exchange platform.