HSBC Prioritizes Blockchain Applications in Key Areas

HSBC is strategically focusing its blockchain efforts on three key areas: digital asset custody, the HSBC Orion platform, and tokenization. The bank’s Chief Digital, Data, and Innovation Officer, Zhu Kuang Lee, revealed that these will be the primary focus for their blockchain initiatives. 1.5 billion USD worth of bonds have been issued using HSBC’s private blockchain, HSBC Orion, over the past year and a half in Hong Kong. Moreover, China Asset Management Company (China AMC) has selected HSBC as the tokenization agent for Project Ensemble, a pilot program in Hong Kong.