HSBC’s Gold Token Tops $1 Billion in Trades as Retail Investors Embrace Tokenized Assets
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HSBC Holdings PLC said trading volume for its retail gold token surpassed $1 billion, underscoring growing demand for tokenized real-world assets as banks deepen their push into digital finance.
John O’Neill, head of digital assets and currencies at HSBC, announced the milestone during Hong Kong FinTech Week 2025, noting that the HSBC Gold Token has facilitated more than 100,000 transactions since launching in March 2024. The product is the only retail-focused gold token approved by the Securities and Futures Commission of Hong Kong.
Georges Elhedery, HSBC's CEO, said the token is now the largest of its kind in Asia and the third-largest globally, calling it a breakthrough in mainstream adoption of tokenized commodities.
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- HSBC's retail gold token exceeded $1 billion in trading volume and over 100,000 transactions since its March 2024 launch, making it Asia's largest and the world's third-largest retail gold token.
- The token, approved in Hong Kong, represents partial ownership of gold, with settlement in Hong Kong dollars and no physical delivery.
- HSBC and Hong Kong are expanding tokenized assets and digital bonds, with ongoing tokenized green bond issuances totaling HK$6 billion in 2024.
- HSBC Holdings PLC
- HSBC Holdings PLC has reported over $1 billion in trading volume for its retail gold token, the HSBC Gold Token. This token, launched in March 2024, is the only retail-focused gold token approved by the Securities and Futures Commission of Hong Kong. HSBC is actively expanding its digital finance offerings, including a tokenized deposit service now in multiple markets, and participates in Hong Kong's push for asset tokenization, including tokenized green bonds.
- Standard Chartered PLC
- Standard Chartered PLC, also known as 渣打银行, collaborated with HSBC in late October to complete a cross-bank token exchange. This demonstration aimed to showcase the interoperability of their systems within the evolving digital finance landscape.
- 2023：
- Hong Kong government issued HK$800 million ($103 million) in tokenized green bonds.
- March 2024：
- HSBC Gold Token was launched.
- 2024：
- Hong Kong government issued HK$6 billion in tokenized green bonds.
- Late October 2025：
- HSBC and Standard Chartered PLC completed a cross-bank token exchange to demonstrate system interoperability.
- Early November 2025：
- An official announcement regarding the third batch of tokenized green bonds by Hong Kong is expected.
- 2025：
- Hong Kong is preparing to issue its third batch of tokenized green bonds via the Hong Kong Monetary Authority’s Central Moneymarkets Unit and HSBC Orion.
- By Hong Kong FinTech Week 2025：
- HSBC reported that retail gold token trading volume surpassed $1 billion, with over 100,000 transactions since launch.
- 2025：
- HSBC plans to expand its tokenized deposit service to six markets.
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