Why Is HSBC Suddenly Showing Interest In Cryptocurrency?

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Why Is HSBC Suddenly Showing Interest In Cryptocurrency?

After advertising major job positions in the digital currency industry, United Kingdom’s top bank HSBC has intimated it intends to enter the growing digital investment sector in the coming future. Reports by advertisements for open positions that were published recently, the leading financial institution is particularly interested in recruiting a Product Director to oversee “tokenization” use cases and Web3.

HSBC’s Cryptocurrency Job Openings

Although while detailing the new position, HSBC states that the concerned individual would require to report to the Worldwide Head of Digital Assets and Head of HSBC Open, thus highlighting the fact that the role is a senior position in the banking conglomerate. The bank asserts that the positions have become necessary owing to the rapidly changing nature of the cryptocurrency industry and the involved danger appetite.

HSBC was quoted as saying:

The Head of Tokenisation will be required to make complex business and project decisions, that contribute to a high value, strategic initiative.

The applicants would have the external responsibility of representing the corporation to “ regulatory authorities, clients, and the digital assets ecological system to position HSBC” as a pioneer and innovator in the to continue of the digital assets initiative, reports by the job description. Furthermore, the  capacity candidate has to  envision, design and implement a worldwide tokenization proposition that is commercially meaningful bearing in mind HSBC’s scale. Concurrently, those who are successful in their applications for the position of Product Manager for digital assets will be accountable for advancing the agenda for cryptocurrencies.

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Cryptocurrencies  Growing Influence

“The Product Manager for Digital Assets will be required to build strategic frameworks and policies to assist drive complex business, project and governance decisions. This will include the strategic creation and day-to-day management of governance forums and committees to efficiently and transparently drive the digital assets agenda,” the financial giant said.

HSBC is seeking candidates for these positions who are willing to perform in a dynamic regulatory environment and have the  potential to work in challenging circumstances. Interestingly, the United Kingdom, which will be the job location —  is one of the international jurisdictions stepping up its efforts to set up new digital currency legislation in light of growing consumer interest.

HSBC comes after in the footsteps of other well- established banking giants such as JPMorgan in offering products related to blockchain and digital currency. On the other hand, where other banking heavyweights mostly cater to supplying custodian facilities or trading for elite individuals, HSBC’s stance on “tokenization” could be on a different route altogether.

Likewise Read: FBI’s Most Wanted Cryptocurrency Scammer of $4 Bn Ponzi Scheme Finally Found In This Country


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