HSBC Orion Introduces Blockchain Bond Platform for Gold in London Vaults
November 1, 2023
Blockchain in the Gold Business:
On November 1, HSBC unveiled HSBC Orion, its innovative blockchain bond monetization platform. The primary objective? To convert the bank's physical gold ownership stored in London vaults into a more liquid asset.
Digital Tokens for Gold Bullion:
With this new system, digital tokens will be produced, each symbolizing gold bullion. These tokens then become tradable assets through the bank's specialized single-dealer platform. Mark Williamson, the head of partnerships and foreign exchange and commodities proposals, elaborated on this development in a recent interview.
