HSBC announced the launch of a platform that will allow the tokenization of gold bullion, with a stated potential market reach of $525 billion. Mark Williamson, HSBC’s global head of FX and commodities partnerships and propositions, stated that these gold tokens will be tradable using HSBC’s platform, with the bank handling custody of the gold bars in its London vaults.
HSBC Enters Gold Tokenization Era
HSBC, one of the world’s largest financial institutions, has started using tokenization technology to modernize the precious metals trading industry. The bank announced it is launching a gold tokenization platform to simplify the trading of gold, to allow traders to have better control of the bullion they own, according to statements from Mark Williamson, HSBC’s global head of FX and commodities partnerships and propositions.
The gold bars in the platform will be tokenized, and the owners will have the chance to track their bullion via the serial number and the vault where it is
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