HSBC Is Tokenizing Shares Of Their New Physical Gold ETF

HSBC has trillions of dollars of assets. And now they are getting into something new: tokenization.

What’s happening:

• HSBC has officially launched the HSBC Hybrid Gold ETF (NYSE: HGT) which gives investors exposure to physical gold bullion
  

Why it matters:‍

• This is the first time ever that HSBC has tokenized the share structure of one of their ETFs listed on a major stock exchange in the United States to allow global investors to be able to purchase exposure directly on the blockchain
  

Going deeper:‍

• HSBC will purchase London Good Delivery gold bars will all the inflows into the HSBC Hybrid Gold ETF and will provide custody of all the physical gold at their own banking institutions
  
• HSBC has tokenized shares of the HSBC Hybrid Gold fund on the Ethereum blockchain and initially can only be traded through regulated brokers and banks that have existing partnerships with HSBC
  

The intrigue:‍

• Streamex (NASDAQ: STEX) also just recently raised $40.25M USD in a new equity financing round to scale up their physical gold tokenization business and accelerate the launch of their gold backed stablecoin