#Over 100 Companies Hold Over 830,000 BTC#
According to reports as of June 19, more than 100 companies collectively hold over 830,000 BTC, worth about $86.476 billion.
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HSBC has been appointed as the tokenization agent for the Hong Kong Project Ensemble pilot program.
On June 12, according to the Hong Kong Economic Journal, Zhu Kuang Lee, chief head of digital, data and innovation at HSBC, said that HSBC is focusing on three major areas of blockchain technology: digital asset custody, private blockchain platform HSBC Orion, and tokenization. Over the past year and a half, the HSBC Orion platform has completed more than 10 bond issuances totalling more than US$1.5 billion in Hong Kong and elsewhere. HSBC also plans to expand more capabilities on the platform, including support for the digitization of other asset classes.
In addition, HSBC has recently been designated by Huaxia Fund Management Company as the tokenization agent for the Hong Kong Project Ensemble pilot program, assisting in the issuance and redemption of money market fund shares. Zhu Kuang Lee emphasized that tokenization helps lower investment thresholds, promotes financial inclusiveness, and explores the potential of tokens as collateral. HSBC has been actively researching blockchain technology since 2019 to address profitability pressures in the banking industry, creating new revenue sources by enhancing efficiency and reducing costs.