Hong Kong Markets Authority Opens Its Tokenization Sandbox and Major Institutions Dive In
HSBC bank completed three proof of concepts in Hong Kong’s Ensemble sandbox.
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HSBC bank completed three proof of concepts in Hong Kong’s Ensemble sandbox.
Earlier this month, Ripple-owned infrastructure provider Metaco said it was working with banking powerhouse HSBC.
The news comes a day after HSBC, one of the world’s largest banks, said it plans to start a digital-assets custody service for institutional clients.
Citigroup Inc., HSBC, BNY Mellon and other global financial giants have been experimenting with what they call a “regulated liability network” for conducting round-the-clock, wholesale payments using shared ledgers, and a paper released Thursday suggests the system has potential.
HSBC’s customers in Hong Kong have in fact been able to trade such crypto investment products since they were listed on the Hong Kong Stock Exchange in December.
Banking giants like Standard Chartered, HSBC and Citi are set to run multiple tokenization trials across financial asset classes.