HSBC is now ready to venture into the crypto market

• HSBC posted a crypto-related job opening on its careers page today.
• Colleagues have been launching crypto products in recent years.
• Shares of Europe’s largest bank ended slightly lower on Tuesday.

HSBC Holdings plc today came into focus on reports that Europe’s largest bank is now ready to venture into cryptocurrencies.

HSBC posts crypto related job vacancies

On Tuesday, HSBC listed a job vacancy on its career page confirming it was looking for a “Product Director” to oversee tokenization use cases.

According to the financial giant, the rapidly evolving crypto landscape requires that banks develop footprints in this market.

As digital assets is a new topic and strategic considerations & risk appetite evolve rapidly, Heads of Tokenization will be required to make complex business and project decisions that contribute to high value strategic initiatives.

HSBC Holdings plc shares which are up more than 15% year-to-date ended slightly in the red today.

HSBC merged with companies such as JPMorgan Chase

The British multinational isn’t the only one in major banking considering a foray into the crypto market. Partners, including JPMorgan Chase & Co. have launched crypto-related products in recent years.

HSBC Holdings plc is currently looking for a suitable candidate to fill the role of Product Manager for digital assets as well, indicating that it is looking to offer a wide range of services within the crypto niche.

That is quite a change of pace for a universal bank that has been vocal against cryptocurrencies and raised questions about their sustainability. A few months ago, CEO Noel Quinn reportedly said that HSBC would not rush into cryptocurrencies.