HSBC is seeking a candidate with knowledge of digital assets, particularly pertaining to asset tokenization and storage.


HSBC, the major British multinational bank holding the highest amount of assets in Europe, has increased its focus on digital currencies. The bank is now in search of a chief executive to handle asset tokenization.


HSBC launched a recruitment process for the position of Director of Tokenization of GPBW product, to be completed on February 13th. The role includes creating and executing a worldwide proposition for tokenization, as well as representing the bank when dealing with regulators and other digital assets stakeholders.


The ideal candidate must demonstrate expertise in digital assets, particularly with asset tokenization and storage, and should have a thorough understanding of the sector and the top locations for wealth markets.


HSBC has noticeably intensified its involvement in digital currencies evidenced by a number of joint ventures in the past. The bank launched a metaverse investment product geared towards affluent clients based in Singapore and Hong Kong in April 2022. Furthermore, the bank joined the United States Commodity Futures Trading Commission Global Markets Advisory Committee.


HSBC's focus is mostly on the global progress of CBDCs. In September 2021, Noel Quinn, the CEO of the HSBC Group, affirmed his company's devotion to central bank digital currencies while expressing concern relating to the possible risks of cryptocurrencies and stablecoins.


HSBC was one of the financial institutions that took part in the 12-week test of the Federal Reserve Bank of New York's central bank digital currency (CBDC) pilot. Additionally, the British bank was present at the launching of the Universal Digital Payment Network, which has been likened to the SWIFT network, although it is designed for stablecoins and CBDCs. HSBC is also working with 14 commercial and central banks, under the support of SWIFT, to explore the use of CBDCs and tokenized assets in the current existing financial system.



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