Hong Kong’s financial services sector is intensifying its focus on tokenisation, as stated by Secretary Christopher Hui. He describes tokenisation as a key trend that could revolutionize traditional markets. The city is preparing for the Consensus Hong Kong 2025 conference, emphasizing its competitive stance in the global Web3 industry. Notably, HSBC has introduced a tokenized gold product to support this initiative.
Hong Kong is enhancing its commitment to tokenisation and stablecoins to strengthen its Web3 sector, as articulated by the Secretary for Financial Services, Christopher Hui. This focus on emerging technologies coincides with the city hosting a pivotal international blockchain conference, which underscores the competitive landscape with the United States.
In his keynote address at Consensus Hong Kong 2025, Mr. Hui characterized tokenisation as among the “defining trends” in finance. He emphasized that this process harbors the potential to significantly alter traditional financial markets and operations.
Tokenisation involves creating tradable digital tokens on a blockchain, representing ownership of tangible assets. This innovation promises to enhance liquidity and accessibility, fundamentally changing how assets are traded in the financial realm.
In March of the previous year, HSBC launched a tokenized gold product, the HSBC Gold Token, specifically designed for retail customers in Hong Kong, demonstrating the bank’s commitment to embracing this transformative trend. Their initiative highlights the broader industry move towards leveraging blockchain technologies for tangible asset representation.
In summary, Hong Kong’s efforts to advance tokenisation and stablecoins signify the city’s ambition to become a leader in the Web3 landscape. The remarks by Secretary Hui illustrate the transformative potential of tokenisation in reshaping financial markets, supported by concrete advancements such as HSBC’s tokenized gold product. As competition grows, Hong Kong aims to solidify its position in the evolving financial industry, driven by technological innovation.
Original Source: www.scmp.com
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