HSBC launches a blockchain-based gold tokenization platform to represent gold ownership in digital form

ChainCatcher news, HSBC Holdings Plc has launched a blockchain platform based on distributed ledger technology, aimed at tokenizing the ownership of physical gold in HSBC's London vault, representing gold in digital form.

According to reports, HSBC stated that this move aims to simplify and optimize the gold ownership tracking process, including the serial numbers of gold bars. Currently, the tokenization system is primarily targeted at institutional investors, and in the future, it may allow individual investors to purchase physical gold through digital tokens, pending approval from local regulatory authorities.