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Due to the volatile price trends, we do not consider Bitcoin as an asset class. If customers want to invest in this area, they certainly can, but we do not categorize it as an asset class in our wealth management business.
Peter Wong stated, "For similar reasons, we are not in a hurry to enter the stablecoin space." This indicates that HSBC Bank's position on cryptocurrencies is notably different from other competitors like Goldman Sachs.
Personally, I view Bitcoin more as an asset class than a means of payment because of its high volatility. Evaluating its value on a customer's balance sheet is a challenging task.
Peter Wong added, "Although stablecoins have some reserves as collateral to address value storage issues, it depends on the initiating organization, the structure of the reserves, and their availability." |
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Post time 31-12-2023 09:03:21