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HSBC Built Tokenized Deposit Infrastructure on Ethereum-Compatible Standards

HSBC developed its tokenized deposit infrastructure using private blockchain standards compatible with Ethereum's EVM and ERC-20, Sun Lei, Global Head of Local and Innovative Payment Products at HSBC's Global Payments Solutions, said. The bank projects that even 5%–10% tokenization of commercial bank deposits would exceed the current scale of any cryptocurrency. HSBC is in discussions with clients on programmable applications for potential tokenized lending products and has not ruled out adopting public blockchain routes for certain use cases.
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