HSBC business building

HSBC seeks blockchain expert to lead digital asset analysis in Hong Kong

Financial giant HSBC (NASDAQ:HSBC) is on the lookout for a Web3 expert to join its Digital Business Service as a lead analyst, building on the momentum it has gained in the sector over the previous months.

The bank seeks a Lead Digital Asset Business Analyst to “drive” its Web 3 objectives with customer satisfaction and efficiency at the heart of operations. Located in Hong Kong, the role will require a successful applicant to design new workflow architecture diagrams and document existing business processes.

HSBC’s ideal candidate is expected to collaborate with technical teams to ensure a seamless development lifecycle of the bank’s digital asset products. HSBC’s job listing will require the successful candidate to extend the collaborative traits with cross-functional stakeholders “to ensure correct translation of business requirements to technical solution requirements and specification.”

Candidates are expected to have a working knowledge of blockchain specifically relating to digital assets. Previous experience with non-fungible tokens (NFTs), digital wallets, and the metaverse is considered a plus.

“Working experience in leading an agile team and managing IT projects to meet banking IT governance standards,” read one of the role’s requirements.

HSBC’s decision to beef up its rank with a blockchain expert follows the firm’s previous forays into Web 3. In the middle of September, it was reported that the London-based financial behemoth had collaborated with digital asset custody solutions provider Fireblock, suggesting that the bank could offer custodial services to institutional clients.

The bank has been eyeing tokenization, as underscored in its joint tokenization report with global financial services firm Northern Trust. Per the report, HSBC forecast that before the end of 2030, over 5% of all financial assets will be tokenized, with the bank making initial plays to position itself for a digital future.

HSBC is currently participating in the Hong Kong Monetary Authority’s (HKMA) pilot for a central bank digital currency (CBDC) focused on programmable payments using smart contracts. The bank announced the start of a five-week CBDC pilot in September on the HKUST Business School campus building on the successes of the Regulated Liability Network (RLN) pilot program.

Web3 hires on the rise

Amid the massive job cuts by traditional firms since the start of the year, Web2 firms have gone on hiring sprees of blockchain experts in recent months. Professional services firm Deloitte confirmed its intention to fill 300 Web3 roles with consumer electronics brand LG and game publisher Konami sharing similar ambitions.

The National Payments Corporation of India (NPCI) has announced plans to hire an expert to lead its blockchain plans, with the ideal candidate expected to have 16 years of experience in an engineering role. Given the extended bear market, AI roles have exceeded Web3 postings, according to data from Google Trends, as generative AI takes the spotlight from blockchain.

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