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HSBC: The current private chain standard for tokenized deposits is compatible with Ethereum and consistent with ERC-20



On December 4, according to Caixin, Sun Lei, Global Head of Local and Innovative Payments Products at HSBC Global Payment Solutions, said in an exclusive interview that HSBC has long invested resources to advance tokenized deposit business. In the future, even if only 5%–10% of commercial bank deposits are tokenized, that would still be far larger than the current market cap of any cryptocurrency.

HSBC’s current private chain technical standards are the same as Ethereum’s EVM compatibility and ERC-20 standards. It is also possible that some user scenarios in the future may require choosing a public chain technology route. Regarding whether tokenized loans will be launched next, HSBC is already discussing related programmable applications with clients.
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