coinspress.com
HSBC has launched tokenised gold for retail customers in Hong Kong, a significant step towards digital asset adoption in the region.
The HSBC Gold Token offers a convenient way for customers to invest in gold through the bank’s online banking and mobile app platforms.
Maggie Ng, General Manager of Wealth and Personal Banking Hong Kong at HSBC, emphasizes the importance of meeting customer demand for digital assets.
HSBC’s introduction of tokenized gold is powered by its digital assets platform, HSBC Orion, leveraging distributed ledger technology to digitize ownership rights of physical gold. This innovation promises enhanced efficiency, transparency, and accessibility in the financial industry.
The move towards tokenized assets represents a shift in traditional investment avenues, with HSBC ensuring the integrity and security of digital assets through blockchain technology and regulatory compliance with the Securities and Futures Commission (SFC).
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Bojan Obradović, Chief Digital Officer in Hong Kong, highlights HSBC’s strategic focus on distributed ledger technology, aiming to reshape financial markets. Beyond tokenised gold, HSBC explores opportunities to develop digital products like funds, bonds, and stablecoins, reflecting its commitment to innovation and adapting to the digital economy.
HSBC’s collaboration with regulatory bodies like the Hong Kong Monetary Authority (HKMA) underscores its role in driving digital transformation in banking. Through partnerships and embracing emerging technologies, HSBC positions itself as a leader in digital finance, shaping the future of banking in Hong Kong and beyond.