HSBC UK launches tokenized gold

HSBC has introduced blockchain">blockchain technology into the $13 trillion gold market, allowing institutional investors to trade physical gold in the form of digital tokens in HSBC's vaults. Williamson, Head of Foreign Exchange and Commodities Partner Relations and Proposals, said that blockchain technology is faster and less cumbersome. This technology will make it easier to find and monitor investors' gold holdings on the platform, with the serial number of each gold bar permanently recorded on the blockchain. Most clients will be institutional investors, but if regulations allow, London HSBC expects that retail investors will also use this technology to trade physical gold directly in the future. Nearly 700,000 gold bars are stored in vaults in London, and the entry of blockchain technology into the market will simplify the process for financial institutions wishing to witness market growth or evolution.