HSBC CEO Noel Quinn's Vision on Tokenised Products and Real Asset Backing

Monday, 15 April 2024, 00:00
HSBC CEO Noel Quinn highlights the importance of future tokenised products being backed by tangible assets such as gold, emphasizing the need for real value behind digital tokens. While acknowledging the benefits of tokenisation in terms of cost-efficiency and efficiency compared to traditional trading methods, Quinn reiterates HSBC's cautious stance towards cryptocurrencies, opting to focus on asset-backed token offerings.
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HSBC CEO Noel Quinn's Vision on Tokenised Products and Real Asset Backing

HSBC CEO Noel Quinn's Vision on Tokenised Products and Real Asset Backing

Tokenisation has proven to be cheaper, more efficient, and superior to traditional trading methods, according to Noel Quinn, the CEO of HSBC. However, Quinn asserts that HSBC will steer clear of cryptocurrencies, opting to concentrate on asset-backed token offerings.

This article was prepared using information from open sources in accordance with the principles of Ethical Policy. The editorial team is not responsible for absolute accuracy, as it relies on data from the sources referenced.

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