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Tokenized deposits unlock payment efficiency, reduce settlement risk: Visa
Visa partnered with HSBC and Hang Seng Bank in 2023 on a pilot that combined the e-HKD and tokenized deposits and has now published a report on its success.
Visa partnered with HSBC and Hang Seng Bank in 2023 on a pilot that combined the e-HKD and tokenized deposits and has now published a report on its success.
For the upcoming trials in July, DLT operators, comprising 48 private firms, will pilot cross-border and PvP transactions in an attempt to revolutionize the global financial system.
With talks of the commercial rollout of the digital yuan just around the corner, HSBC has started offering corporate clients CBDC services in support of the PBoC pilot initiatives.
CEO Noel Quinn says he’s “very comfortable with tokenization” and pledged to keep expanding HSBC’s offerings, which include tokenized gold for retail customers.
After launching its tokenized gold for institutional users in November 2023, the bank is now expanding the HSBC Gold Token to retail users in Hong Kong.
As it moves to fully embrace emerging technologies, HSBC Hong Kong plans to offer tokenized assets to its wealth management clients, with experts predicting the offering could include tokenized gold.
Although instances of using digital bonds as collateral are sparse, HSBC and the Bank of East Asia found relative success in their pioneering attempt at a repo agreement.
Hong Kong has showcased the potential of blockchain in powering up the financial sector with the sale of $750 million worth of digital green bonds, which will be issued using HSBC's Orion.
The future of CBDC transactions is on the horizon as more banks onboard China's digital yuan pilot, exploring various use cases that aim to improve the payments industry and cross-border transactions.
HSBC partners with ADX for digital bonds in the United Arab Emirates, boosting liquidity and digital transformation in capital markets.
HSBC is looking for a Web3 expert for lead digital asset analyst role in Hong Kong, emphasizing blockchain knowledge and collaboration with technical teams.
HSBC and HKUST Business School collaborate on a hypothetical e-HKD pilot to aid Hong Kong Monetary Authority in CBDC development, exploring programmable features and potential retail use cases.