HSBC: The currently used tokenized deposit private chain standard is now compatible with Ethereum and consistent with ERC-20

The Global Director of Local and Innovative Payment Products at HSBC Global Payments Solutions, Sun Lei, stated in an exclusive interview that HSBC has long invested resources to promote tokenized deposit business. In the future, even if commercial bank deposits are only 5% to 10% tokenized, it will still far exceed the scale of any cryptocurrency currently on the market. HSBC's private chain currently has technical standards that are the same as Ethereum's EVM compatible and ERC-20 standards, and it does not rule out the possibility that some user scenarios may require choosing a public chain technical route in the future.

Regarding whether there will be tokenized loans in the next step, HSBC is already discussing related programming applications with clients.