HSBC introduces tokenized gold platform
Gesara.news » News » HSBC introduces tokenized gold platformNews Date: November 3, 2023
HSBC is the First Bank in the World to Offer Tokenized Gold.
HSBC Holdings Plc, a major bullion bank, has introduced a platform that utilizes blockchain technology to tokenize ownership of gold stored in its London vault.
This platform generates digital tokens representing gold bars, making gold trading more accessible.
While initially targeting institutional investors, it plans to open up to retail investors where regulations allow.
HSBC's entry into the tokenized gold market is notable due to its significant role as a custodian of precious metals and a clearer on the London gold market.
The technology promises to streamline the process, allowing clients to easily track their gold ownership down to the serial number of each bar.
HSBC has been actively exploring blockchain technology and recently launched HSBC Orion, a tokenization platform for digital bonds, with successful applications in the market.
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Sources: t.me/real_DonaldJTrump, www.newsmax.com
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Sources:www.bloomberg.com, ahram.org.eg, gesara.news