HSBC is now ready to venture into the crypto market
- HSBC posted crypto-related job openings on its career page today.
- Peers have already launched crypto products in recent years.
- Shares of the largest European bank ended slightly down on Tuesday.
HSBC Holdings plc was in focus today on reports that the largest European bank was now ready to venture into cryptocurrencies.
HSBC posts crypto-related job openings
On Tuesday, HSBC listed a job opening on its career page confirming that it was looking for a “Product Director” to supervise tokenization use cases.
According to the financial behemoth, the rapidly evolving crypto landscape has necessitated that the bank develops a footprint in this market.
Because digital assets is a new topic and strategic & risk appetite considerations are evolving quickly, Head of Tokenization will be required to make complex business and project decisions that contribute to a high value, strategic initiative.
Shares of HSBC Holdings plc that are up more than 15% year-to-date ended slightly in the red today.
HSBC is joining the likes of JPMorgan Chase
The British multinational isn’t the only one in big banks that’s considering dipping its toe in the crypto market. Peers, including JPMorgan Chase & Co have already launched crypto-related products in recent years.
HSBC Holdings plc is currently looking for a suitable candidate to fill in the role of Product Manager for digital assets as well, which suggests that it wants to offer a broad set of services within the crypto niche.
That’s quite a change of pace for the universal bank that’s been vocal against the cryptocurrencies and raised questions on their sustainability. Just months ago, its CEO Noel Quinn was reported saying that HSBC will not rush into cryptocurrencies.
