HSBC revolutionises retail investment with gold tokenisation on blockchain platform

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29th March 2024 – (Hong Kong) HSBC has taken a groundbreaking step in the world of investment by tokenising gold for everyday investors in Hong Kong. With this move, HSBC proudly claims the distinction of being the first bank to create a blockchain-based real-world asset designed specifically for the retail marketplace.

The HSBC Gold Token, minted on the bank’s cutting-edge Orion digital assets platform, can now be accessed through HSBC Online Banking and the HSBC HK Mobile App, as announced in a press release on Wednesday. This innovative offering allows investors to participate in the gold market with ease and convenience.

Tokenization, the process of representing real-world assets on blockchains, has gained significant traction in the banking and financial sector. Both private ledgers and public networks, such as Ethereum, are being utilized to bring a variety of real-world assets (RWA) onto blockchain platforms.

HSBC had previously hinted at a tokenised gold offering as part of their digital asset custody platform, developed in collaboration with Swiss-based crypto safekeeping specialist Metaco. The realisation of their vision has now come to fruition with the introduction of the HSBC Gold Token.

“We are thrilled to launch the HSBC Gold Token, powered by HSBC Orion, which represents a pioneering retail product in Hong Kong authorised by the Securities and Futures Commission,” stated Maggie Ng, Head of Wealth and Personal Banking at HSBC Hong Kong.