HSBC Venturing into Cryptocurrency Sector, Announces Job Openings in Crypto Domain

HSBC, a British multinational universal bank, is venturing into cryptocurrencies, digital assets and tokenization, as revealed in key job openings by the Europe's largest bank by total assets.

HSBC is particularly interested in recruiting a Product Director to oversee “tokenization” use cases and Web3.

In the job role's description, the bank noted that the candidates would have the external role of representing the company to ‘regulators, clients, and the digital assets ecosystem to position HSBC’ as a ‘leader and innovator in furtherance of the digital assets strategy.’

The job positions roles have been necessitated by the evolving nature of the crypto sector and involved risk appetite.

The job opening for Product Manager for digital assets will be responsible for driving the cryptocurrency agenda.

“The Product Manager for Digital Assets will be required to build strategic frameworks and policies to help 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 bank said.

For both roles, HSBC is looking for individuals who can operate in an ambiguous environment with knowledge of handling the changing regulatory landscape.

In these job adverts, the bank is indicating a potential launch of a digital assets offering called — GPB&W Digital Assets.

With this, HSBC will join other global banking giants like J. P. Morgan in offering cryptocurrency and digital assets products.

To recall, earlier in November last year, Standard Chartered invested in Partior, the blockchain-based payment network founded Temasek, J.P. Morgan and DBS Bank. At the same time, HSBC and Wells Fargo expanded their blockchain-based foreign exchange settlement system to include the offshore yuan. The two banking giants launched a shared private ledger in December 2021

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