Financial giant HSBC came out ahead and announced that it is tokenizing gold for investors in Hong Kong, which was titled “HSBC Gold Token”, according to information released by Coindesk, em March, 27 th. With this, HSBC is the first bank that has created a real-world asset based on blockchain that is intended for the retail market.
According to the publication, in a statement, the bank said that the HSBC Gold Token is available through HSBC Online Banking and the HSBC HK Mobile App. The banking institution explained that the HSBC Gold Token is minted on the bank's Orion, a digital asset platform.
It is worth remembering that, in November, the financial giant, in partnership with Metaco, announced the offer of tokenized gold that was in the plans that were part of the banking institution's new digital asset custody platform.
HSBC offers custody of tokenized securities to institutions
Banking giant HSBC announced last year its plans to offer a digital asset custody service to institutional clients. The banking institution's focus will be tokenized securities. To offer the service, HSBC will work together with Metaco, which is owned by Ripple. The information was published by Coindesk on November 8.
According to the publication, the bank informed that, when it comes into operation next year, the custody service will complement HSBC Orion. John O'Neill, global head of digital asset strategy, markets and securities services at HSBC highlighted the complement of services in a statement.
The service “will complement HSBC Orion, our platform for issuing digital assets, as well as our recent launch of tokenized physical gold,” it said. “These services highlight HSBC’s commitment to the overall development of digital asset markets,” he added.
