HSBC is looking for a senior executive to work with asset tokenization – Crypto News Today

HSBC is looking for a senior executive to work with asset tokenization

British multinational bank HSBC, which controls the largest number of assets in Europe, has focused more on digital currencies in recent years. The financial institution is looking to hire a senior executive who will focus on asset tokenization.

On January 30, HSBC announced the opening of a GPBW Tokenization Product Manager position, and the application deadline was set for February 13. According to the role description, the “Tokenization Director” would be responsible for “creating and executing” a global tokenization offering as well as representing the bank to regulators and the digital asset ecosystem.

The candidate should be familiar with digital assets, in particular asset tokenization and custody, and have “in-depth knowledge” of the industry as a whole as well as significant wealth markets in various geographies.

This means the acceleration of HSBC’s interest in digital currencies, which were previously represented in a number of cooperations between the two companies. The bank began offering its wealthy clients in Singapore and Hong Kong a metaverse investment product in April 2022. The target audience for this investment was the metaverse. Previously, the company became a member of the Global Markets Advisory Board of the United States Commodity Futures Trading Commission.

However, the most important area of ​​interest for HSBC is the expansion of digital currencies used by central banks around the world (CBDC). Noel Quinn, HSBC Group CEO, gave an overview of the company’s commitment to backing central bank-issued digital currencies in September 2021. However, he highlighted concern over the dangers of cryptocurrencies. currencies and stablecoins.

The UK bank participated in the CBDC proof of concept project which was conducted by the Federal Reserve Bank of New York for a period of twelve weeks. He was present at the unveiling of the Universal Digital Payments Network, which is a platform for Distributed Ledger Technology (DLT) that would play a role comparable to the SWIFT network for banks, but for stablecoins and CBDCs at the place. Additionally, HSBC is one of 14 commercial and central banks working with SWIFT to test transactions, including CBDCs and tokenized assets on pre-existing financial infrastructure.

HSBC is looking for a senior executive to work with asset tokenization

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