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HSBC is to launch tokenized gold as part of its quest to digitize real-world assets.
Chief Digital Officer Bojan Obradovich said this will be the first form of tokenized real-life asset introduced by HSBC.
The bank is also looking into tokenizing other assets, such as funds or bonds, and investing in distributed ledger technology (DLT) to develop digital currency capabilities such as central bank digital currencies, tokenized deposits and stablecoins.
Obradovich pointed out that Bitcoin is one of the most prominent computer science innovations in recent years, and distributed ledger technology has the potential to become a mainstream component of the future financial market.
(Source: retailnews Image source: freepik)
