Why Is This Banking Giant Suddenly Venturing Into Crypto?

Feb 01, 2023 | wjb news

After the release of key positions in the cryptocurrency industry, HSBC, the top financial institution in the United States, hinted that it planned to enter the growing field of digital assets in the near future. According to the advertising of gap positions recently released, this leading financial company is particularly interested in recruiting a product director to supervise the "logo" use case and Web3.

HSBC data encryption position gap

When describing the new position in detail, HSBC indicated that the relevant person in charge would need to report to the worldwide head of digital assets and the person in charge of financial institutions to HSBC, thus highlighting the fact that this position is the most senior position in the banking group. The financial institution claimed that due to the changing nature of the cryptocurrency industry and the stock investment risks involved, this trading position has become increasingly necessary.

The report quoted HSBC financial institutions as saying:

The person responsible for tokenization should be required to make complex business project decisions, which will help to complete the high-value development strategic plan.

According to the job description, the applicant will assume the external obligation to "position HSBC as the pioneer and pioneer of digital asset promotion to the regulatory authorities, users and digital asset ecosystem" on behalf of the company. In addition, given the size of HSBC, potential candidates must conceive, design and implement a worldwide tokenization plan with commercial service value. At the same time, the person who has successfully applied for the position of digital asset product operation will be responsible for promoting the cryptocurrency agenda.

Crypto's increasing influence

"The operation of digital asset products should be regulated to create a strategic framework and policy, which can help promote complex business processes, projects and governance management decisions. This will include the establishment of governance forums and the development strategy of the committee and the daily management methods, so as to promote the digital asset agenda in an efficient and transparent manner," said the financial giant.

HSBC is looking for candidates for this position. They are more willing to work in a dynamic and strict regulatory environment, and have the ability to work in an interesting environment. It is interesting that the UK, as the office location, is one of the international jurisdictions. Due to the rising consumer interest, the host country is stepping up the formulation of a new cryptocurrency law.

HSBC has followed the steps of other well-known financial institutions such as Morgan Bank in providing products related to blockchain and cryptocurrency. However, in the case that most of the other commercial banking giants are elites who give custody equipment or buy and sell, HSBC's position on "tokenization" is likely to be completely different.