{"id":72705,"date":"2024-03-01T02:43:02","date_gmt":"2024-03-01T06:43:02","guid":{"rendered":"https:\/\/coinscreed.com\/staging\/?p=72705"},"modified":"2024-03-01T02:44:58","modified_gmt":"2024-03-01T06:44:58","slug":"hsbc-hong-kong-to-permit-investing-in-virtual-assets","status":"publish","type":"post","link":"https:\/\/coinscreed.com\/staging\/hsbc-hong-kong-to-permit-investing-in-virtual-assets\/","title":{"rendered":"HSBC Hong Kong to Permit Investing in Virtual Assets"},"content":{"rendered":"\n

According to Sami Abouzahr, head of HSBC's investments in Hong Kong<\/a>, asset tokenization is one of this year's key priorities.<\/p>\n\n\n\n

\"HSBC
HSBC Hong Kong to Permit Investing in Virtual Assets<\/figcaption><\/figure>\n\n\n\n

HSBC Hong Kong will heavily prioritize asset tokenization in the current year as part of the bank's development plan. The head of investments and wealth solutions at HSBC Hong Kong, Sami Abouzahr, disclosed to the Hong Kong Economic Journal \r\n \r\n \r\n \r\n <\/g>\r\n \r\n \r\n \r\n <\/clipPath>\r\n <\/defs><\/svg><\/span><\/a>that the bank is actively researching the possible implementation of tokenization technology.<\/p>\n\n\n\n

Abouzahr emphasized that the project aims to give clients additional options to invest in both real and virtual assets, without going into specifics. According to Abouzahr, the objective is to make sure these investment products follow legal standards while making them more accessible to a larger group of investors.<\/p>\n\n\n\n

Using tokenization technology, assets that are either virtual or tangible can be changed into digital tokens<\/a> on a blockchain network. By utilizing this technology, HSBC is attempting to increase its market share in Hong Kong, a city that is seeing an increase in venture capital funding for projects pertaining to cryptocurrencies.<\/p>\n\n\n\n

Abouzahr went on to say that HSBC Hong Kong is not just focused on serving professional investors regarding tokenization. Rather, the bank's current goal is to open up these investing opportunities to a wider range of local clients. <\/p>\n\n\n\n

It's unclear, though, just when the bank intends to launch these services. HSBC's foray into the world of digital assets and blockchain is beginning to gain traction. <\/p>\n\n\n\n

The bank spearheaded a funding round for blockchain insurance startup MediConCen <\/a>at the beginning of February; the round raised $6.85 million in total. <\/p>\n\n\n\n

The investment seeks to accelerate and simplify the insurance industry's claims procedure. In addition to HSBC, other investors participating in the investment round included G&M Capital, ParticleX, and Wings Capital Ventures.<\/p>\n","protected":false},"excerpt":{"rendered":"

According to Sami Abouzahr, head of HSBC’s investments in Hong Kong, asset tokenization is one of this year’s key priorities. HSBC Hong Kong will heavily prioritize asset tokenization in the current year as part of the bank’s development plan. The head of investments and wealth solutions at HSBC Hong Kong, Sami Abouzahr, disclosed to the […]<\/p>\n","protected":false},"author":43,"featured_media":72707,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21],"tags":[1134,958,9438],"class_list":["post-72705","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-hong-kong","tag-hsbc","tag-virtual-assets-2"],"jetpack_featured_media_url":"https:\/\/coinscreed.com\/staging\/wp-content\/uploads\/2024\/03\/croc_1709271832444.jpg","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts\/72705","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/users\/43"}],"replies":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/comments?post=72705"}],"version-history":[{"count":0,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts\/72705\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/media\/72707"}],"wp:attachment":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/media?parent=72705"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/categories?post=72705"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/tags?post=72705"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}