HSBC Tokenizes Gold for Retail Investors in Hong Kong

HSBC makes history by tokenizing gold for retail investors in Hong Kong, becoming the first bank to create a blockchain-based real-world asset for this market. Galaxy Digital reports strong performance, with AUM nearly doubling and income before tax reaching $300 million in the first quarter of 2023. El Salvador's bitcoin holdings continue to grow, now surpassing 5,700 BTC.

HSBC Tokenizes Gold for Retail Investors in Hong Kong

Financial behemoth HSBC has emerged as a pioneer in the blockchain space, becoming the first bank to introduce a real-world asset tokenized on a blockchain for the retail market. The HSBC Gold Token, minted on the bank's Orion digital assets platform, is now accessible through HSBC Online Banking and the HSBC HK Mobile App.

Tokenization, the process of bringing tangible assets onto blockchains, has gained traction among financial institutions and banks, who are leveraging both private ledgers and public networks such as Ethereum for this purpose.

Galaxy Digital Boasts Strong Fourth Quarter and Positive Outlook

Galaxy Digital, a crypto financial services firm led by Michael Novogratz, concluded 2023 with robust operating performance across its diversified operations, according to a research report by Canaccord Genuity.

The report highlights notable achievements, including a significant increase in assets under management (AUM), which surged to over $10 billion, a rise in equity capital to $2.1 billion, and income before tax for the quarter-to-date period amounting to approximately $300 million.

El Salvador Bolsters Bitcoin Holdings

El Salvador, the nation that embraced bitcoin as legal tender in 2021, continues to expand its bitcoin (BTC) reserves. President Nayib Bukele announced that the country now holds 5,700 bitcoin, an increase from the previous estimate of 5,690 in mid-March. This represents a portfolio worth over $400 million at bitcoin's current price of approximately $70,000.

Bukele recently revealed that El Salvador's bitcoin holdings had been transferred to cold storage and disclosed the address of the country's bitcoin wallet, which displayed a balance of 5,690 BTC, exceeding the estimates of public trackers.

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