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“We acknowledge the rising demand for digital assets and the existing familiarity of our customers with gold investment,” said Maggie Ng, general manager and head of wealth and personal banking of HSBC’s Hong Kong office. “We are proud that HSBC Gold Token, powered by HSBC Orion, is the first retail product in Hong Kong that is based on distributed ledger technology , as authorized by the Securities and Futures Commission .
The government of Hong Kong has been pushing for more digital assets to be rolled out for public use since June of 2023, and this development is one of the most notable to come out of that effort. In February, the Hong Kong government completed the world’s first multicurrency digital bond offering worth approximately $750 million. The bonds were issued onto HSBC Orion’s private blockchain as part of the Hong Kong Monetary Authority’s Central Moneymarkets Unit .
The blockchain ledger has “strong potential to be a mainstream component of future financial markets,” said HSBC Hong Kong’s chief digital officer Bojan Obradović while speaking at Tuesday’s Milken Institute Global Investors’ Symposium. is a Crypto Market Reporter for Kitco Crypto. Coming from a background in Psychology and Human Behavior, he began to focus his attention on the cryptocurrency space in early 2017 after noticing the rapid growth of this emerging market. Since that time, Jordan has worked as a content creator for multiple projects and as a crypto news journalist reporting on the latest developments within the cryptocurrency market.
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