To date HSBC’s efforts with DLT and tokenization have focused on institutions. Its HSBC Orion blockchain platform was used for a European Investment Bank (EIB) bond issuance and the largest digital bond issuance so far, Hong Kong’s $756 million green bond. Last year it launched a solution that tokenizes gold, also targeted at institutions. Now, the Hong Kong arm is eyeing the use of tokenization in some of its wealth management initiatives.
According to the Hong Kong Economic Journal, HSBC is exploring the introduction of tokenization solutions to enable customers to invest in physical and virtual assets in a compliant manner. Sami Abouzahr, HSBC’s Hong Kong Head of Wealth Solutions, emphasized that not all offerings plan to target professional investors. Perhaps the tokenized gold offering may expand its target market.
Regarding virtual assets, HSBC Hong Kong bought land in The Sandbox metaverse back in 2022. It also launched a metaverse fund around the same time.
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