The financial mass-powerhouse of HSBC (HSBA) is going to build a gold digital token for average users of Hong Kong and holds the claim of being the first bank doing a real-world asset-based blockchain to get the consumers engaged.
- The tokenized gold product represents seamless access to digital gold, via HSBC Online Banking and HSBC HK Mobile App.
- HSBC Gold token is being created on the bank’s Orion basis, a digital assets platform.
The HSBC Gold Tokency, cast in the bank’s Orion digital assets platform, is accessible via HSBC Online Banking and HSBC HK Mobile App, according to the bank’s statement released today.
Banks and institutional investors from the financial system began to apply blockchain technology to a wide range of assets, such as private ledgers and public networks like Ethereum, the process is referred to as tokenization.
HSBC also proposed to introduce a tokenized gold option as one of its new digital assets to custody tentatively featured in collaboration with the Swiss-made Metaco crypto-secure storage provider.
The head of wealth and personal banking Maggie Ng from HSBC Hong Kong head said:
“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,”
