Bitget App
Trade smarter
Buy cryptoMarketsTradeFuturesEarnWeb3SquareMore
Trade
Spot
Buy and sell crypto with ease
Margin
Amplify your capital and maximize fund efficiency
Onchain
Going Onchain, without going Onchain!
Convert
Zero fees, no slippage
Explore
Launchhub
Gain the edge early and start winning
Copy
Copy elite trader with one click
Bots
Simple, fast, and reliable AI trading bot
Trade
USDT-M Futures
Futures settled in USDT
USDC-M Futures
Futures settled in USDC
Coin-M Futures
Futures settled in cryptocurrencies
Explore
Futures guide
A beginner-to-advanced journey in futures trading
Futures promotions
Generous rewards await
Overview
A variety of products to grow your assets
Simple Earn
Deposit and withdraw anytime to earn flexible returns with zero risk
On-chain Earn
Earn profits daily without risking principal
Structured Earn
Robust financial innovation to navigate market swings
VIP and Wealth Management
Premium services for smart wealth management
Loans
Flexible borrowing with high fund security
HSBC Launches Gold Token For Hong Kong Investors

HSBC Launches Gold Token For Hong Kong Investors

CryptodailyCryptodaily2024/03/28 14:37
By:Amara Khatri

Table of Contents

  • Tokenizing Real-World Assets
  • HSBC Finally Launches Gold Tokens
  • Benefits For Investors
  • Growing Demand For Blockchain In Banking

HSBC Hong Kong has become the first financial institution to offer tokenized RWA by launching gold tokens for retail investors in Hong Kong. 

Tokenizing Real-World Assets

Retail investors in Hong Kong will now be able to buy gold tokens through the HSBC Online Banking and the HSBC HK Mobile App. Furthermore, they will also be able to access the tokens on HSBC Orion, which is a DLT-based bond tokenization platform developed to enhance the efficiency, security, and flexibility of bond issuance and trading.

The news was announced by HSBC Hong Kong’s chief digital officer Bojan Obradović during a panel at the Milken Institute Global Investor’s Symposium. 

HSBC Finally Launches Gold Tokens

This is not the first step taken by the financial institution in blockchain; HSBC had previously considered offering tokenized gold as a part of its digital asset custody platform, launched in collaboration with Swiss security platform Metaco. 

Tokenization allows real-world assets, like gold, to be offered as digital assets on a blockchain. User assets in the form of tokenized gold, will have enhanced security and transparency. Buyers can access their tokenized assets on private ledgers or public blockchains like Ethereum from anywhere in the world. 

Benefits For Investors

Holding tokenized gold has numerous benefits for retail investors. With the transition from physical gold to digital tokens, investors can now possess a fraction of gold. Additionally, HSBC eliminates the necessity of storing gold physically, thus facilitating smooth transactions. Furthermore, utilizing blockchain technology enhances trust by ensuring the immutability and traceability of tokenized assets.

Growing Demand For Blockchain In Banking

By offering tokenized gold, HSBC has answered the growing demand for blockchain-based solutions in the fintech sector. The gold tokens were launched successfully, highlighting the bank’s intention to continue offering innovative investment assets while using distributed ledger technology. This represents a larger trend in the market towards tokenizing real-world assets (RWAs). The launch of the gold tokens has made HSBC the first bank to create a blockchain-based RWA for the retail marketplace.

General Manager and Head of Wealth and Personal Banking Hong Kong HSBC, Maggie Ng, said, 

“We acknowledge the rising demand for digital assets and the existing familiarity of our customers with gold investment. We are proud that HSBC Gold Token, powered by HSBC Orion, is the first retail product in Hong Kong that is based on distributed ledger technology, as authorized by the Securities and Futures Commission (SFC).”

Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.

Investment Disclaimer
0

Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.

PoolX: Locked for new tokens.
APR up to 10%. Always on, always get airdrop.
Lock now!