GOLD NEWS

HSBC CEO Noel Quinn says future tokenised products, like gold offering, will be ‘backed by something real’

Mon April 15 2024

Hong Kong’s largest commercial bank, HSBC, plans to expand its line-up of tokenised assets so its customers can enjoy the benefits of such digital products, but will make sure these offerings are grounded in reality, according to the bank’s CEO. It intends to steer away from volatile cryptocurrencies.

“Tokenisation is a more efficient trading mechanism and provides liquidity to that asset,” Noel Quinn said during a private media round table in Hong Kong last week. “In theory, you can tokenise anything. The key criteria for me is, is there substance behind the token? Has it got predictability? Does it exist?”

Source: https://www.scmp.com/