HSBC Bank enters the tokenized securities custody market, continues to venture into blockchain financial innovation.

The global financial giant HSBC announced that it will launch tokenized securities custody services for institutional clients in 2024, marking a significant milestone in the increasing integration of traditional finance and blockchain technology. This new service aims to meet the growing demand for digital asset management and explore innovative custody solutions in the banking industry.

HSBC Teams Up with Metaco to Enter Digital Asset Custody Market

HSBC revealed that it will collaborate with Swiss blockchain expert Metaco to offer custody services focused on tokenized securities to institutional clients. This cross-border partnership is expected to usher in a new era of digital asset custody, meeting the global demand from institutions for innovative financial products.

HSBC Orion and Gold Tokenization Service to Create Digital Asset Ecosystem

The new custody service, set to launch in 2024, will run parallel with HSBC's digital asset platform HSBC Orion and its newly introduced service for tokenizing physical gold. This suite of services aims to provide institutional clients with a comprehensive digital asset service ecosystem, further solidifying HSBC's leadership position in financial innovation.

HSBC's "Gold Tokenization" offers customers new transaction services via blockchain

Banking Industry Expands Tokenized Assets

The global banking industry is actively involved in bringing the tokenization process to real-world assets RWA on both private and public blockchains. HSBC's new initiative specifically focuses on tokenized securities issued by third-party platforms, excluding custody of cryptocurrencies or stablecoins. This move demonstrates the innovation and forward-thinking of financial institutions in the application of blockchain technology.

Not mentioned in the report is HSBC's previous collaboration with technology service provider Fireblocks, dedicated to exploring and implementing cutting-edge custody technology. HSBC's series of initiatives showcase its determination and action on the path of integrating blockchain and financial technology, presenting a vision of continuous evolution for institutional clients and the entire financial services industry.

The Securities and Futures Commission of Hong Kong is considering opening up tokenized securities for retail investors