Major financial institutions such as JPMorgan and HSBC are increasing their blockchain-related activities ahead of schedule, accelerating the adoption of distributed ledger technology in traditional finance. In November, JPMorgan made its first decentralized finance trade on a public blockchain and introduced programmable payments for its institutional blockchain platform, JPM Coin. JPMorgan Chase and Apollo executives also revealed plans for a tokenized enterprise mainnet. HSBC has also been active, testing tokenized deposits with Ant Group and partnering with Ripple-owned tech firm Metaco to hold tokenized securities on its new custody platform. The growing interest from major financial companies indicates that the potential of DLT is gaining momentum, with some seeing a pathway to re-engineering global financial markets.

HSBC has partnered with tech firm Metaco, owned by Ripple, to launch an institutional custody platform for tokenized securities. The bank aims to launch the service in 2024, in conjunction with its existing digital asset issuance platform, HSBC Orion, and its gold tokenization solution. The move was driven by increasing demand for custody and fund administration of digital assets from asset managers and owners. Metaco's Harmonize platform will be used to enable secure and unified operations of digital assets.

HSBC Bank has released a recruitment notice for analysts in digital assets and digital asset custody business. The advertisement is for positions in the digital business services department in Hong Kong, which provides solutions for the entire group. One of the key requirements is to have experience in "producing leading digital asset custody products on a production scale", and the top four ranked skills are related to digital asset custody. However, the position is more broadly focused on digital assets, and requires knowledge of "digital asset trading platforms, digital asset wallets, NFTs, Web3". Earlier reports indicated that in September, HSBC Bank had already partnered with digital asset custody platform Fireblocks.

Mary Hui, the head of global banking business in the Asia-Pacific region of HSBC, said that the Orion platform launched by HSBC allows issuers to issue electronic bonds in Luxembourg through blockchain and can be traded in multiple currencies on the platform. It may support cross-border transactions in the future.

According to a report by HSBC Bank and Northern Trust, digital assets are expected to account for 10% of all assets by 2030. The report also predicts that the global asset market may reach $145.4 trillion by 2025, which could mean that the valuation of the digital market may exceed $14.5 trillion. This prediction is based on the continuous growth of cryptocurrencies, stablecoins, CBDCs, and other technological innovations that promote multiple uses of these tokens. <br>

HSBC, the eighth largest bank in the world based in London, will collaborate with Amazon Web Services, BT, and Toshiba to conduct trials and experiments using quantum encryption technology. The bank will be the first to test the new quantum "metro" network, which is a secure transaction system that utilizes unbreakable encryption to secure transactions via quantum cryptography.

June 26 (Cointime) - HSBC, the largest bank in Hong Kong, has become the first bank in the region to allow its customers to buy and sell Bitcoin and Ethereum exchange-traded funds (ETFs) listed on the Hong Kong exchange. The move is expected to expand local users' exposure to cryptocurrencies in Hong Kong.

June 26 (Cointime) - HSBC, the largest bank in Hong Kong, has reportedly launched its first local cryptocurrency services, allowing customers to buy and sell Bitcoin and Ethereum-based exchange-traded funds listed on the Hong Kong Exchange.

June 21 (Cointime) - HSBC, the British bank, has applied for trademarks related to metaverse and NFTs, indicating a possible launch of virtual banking services and a metaverse bank branch. Queen Productions Ltd, the company managing the intellectual property of British rock band Queen, has also filed patents for NFT-authenticated media and virtual merchandise.

June 21 (Cointime) - HSBC, the British multinational banking and financial services company, has filed an application for a metaverse trademark as part of its efforts to expand its operations into the virtual world and offer more inclusive digital services to its users.