HSBC's Global Head of Custody Products, Gu Zhongyi, stated at an event that the bank plans to embed its planned stablecoin within its proprietary app's payment and investment processes, facilitating client investment in tokenized assets.

Furthermore, HSBC Holdings PLC is considering support for other stablecoins not denominated in Hong Kong dollars, primarily for use in cross-border payments.

The bank is currently expanding its range of other tokenized investment products, including curated offerings from third parties.