HSBC has launched tokenized gold products for retail clients in Hong Kong as the local government continues its drive for real-world asset tokenization.

The financial services company said in a statement on Wednesday that retail customers can access the HSBC Gold Token via online banking and the bank’s mobile app. “The launch marks the first time HSBC's private distributed ledger is being used to tokenise a retail investment product,” it said in the statement.

The bank built the HSBC Gold Token with its digital assets platform, HSBC Orion, and has previously launched digital bonds in Hong Kong and Luxembourg, according to the press release.

“We are proud that HSBC Gold Token, powered by HSBC Orion, is the first retail product in Hong Kong that is based on distributed ledger …