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HSBC Looks To Broaden Tokenized Asset Offerings after Gold Token Launch

HSBC, one of the world’s largest banking services, intends to broaden its array of tokenized assets. CEO Noel Quinn said the bank will ensure these offerings are firmly anchored in reality, the South China Morning Post reported Monday. Tokenization of digital assets involves transforming the ownership rights of a real-world asset into a digital token. This token can then be owned, sold, and traded on a blockchain. It involves turning ownership rights into digital tokens stored on a decentralized ledger system. In a move to explore the potential of digitalized real-world assets, HSBC debuted a retail gold token in March. The bank’s digital asset platform, Orion, serves as the foundation for this gold token.

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