HSBC Launches Tokenized
Gold Product for Everyday
Investors in Hong Kong
According to CoinDesk, HSBC has
introduced a tokenized gold product for
everyday investors in Hong Kong,
becoming the first bank to create a
blockchain-based real-world asset aimed
at the retail marketplace. The HSBC Gold
Token is minted on the bank's Orion digital
assets platform and can be accessed via
HSBC Online Banking and HSBC HK Mobile
App.
Banks and financial institutions are
increasingly tokenizing real-world assets
(RWA) on blockchains, including private
ledgers and public networks like
Ethereum. In November last year, HSBC
announced plans for a tokenized gold
offering as part of its new digital asset
custody platform, developed in
partnership with Swiss-based crypto safe-
keeping specialist Metaco. HSBC Hong
Kong's head of wealth and personal
banking, Maggie Ng, stated that the HSBC
Gold Token, powered by HSBC Orion, is the
first retail product in Hong Kong based on
distributed ledger technology, as
authorized by the Securities and Futures
Commission.
PLEASE Like and follow it encourages me to bring more news to the table
