Make Kitco Your Homepage

After a wave of layoffs at crypto companies, HSBC and eBay are looking to hire

Kitco News

Editor's Note: With so much market volatility, stay on top of daily news! Get caught up in minutes with our speedy summary of today's must-read news and expert opinions. Sign up here!

(Kitco News) - Recent news headlines have been filled with mass layoffs at large crypto companies as they struggle to survive the crypto winter that has taken its toll on some of the most prominent firms in the industry.

While established crypto firms have been forced to cut expenses, an opposite trend is beginning to emerge for companies that have yet to establish their presence in the crypto ecosystem as they look to bring on staff that is knowledgeable about all things crypto.

The British multinational bank HSBC has posted a job advert looking for a top executive to work with asset tokenization. The bank, which manages the largest amount of assets in Europe, opened the application process for a product director of tokenization on Monday.

The job description entails designing and implementing a global tokenization proposal, delivering a program of tokenization use cases that satisfies the company’s risk parameters, engaging with stakeholders to drive digital asset education and the successful delivery of tokenization propositions, and representing HSBC in front of regulators and clients.

A qualified candidate would possess knowledge of digital assets, especially asset tokenization and custody, with “deep insights” into the industry and key geographical wealth markets, the job posting said.

This new job offering comes as crypto-related activities for HSBC have been on the rise in recent months. In December, the firm filed an application with the United States Patent and Trademark Office (USPTO) for the rights to its name and logo in the metaverse. The applications listed a variety of plans for services such as digital media backed by NFTs, virtual currency exchange and transfer, and virtual credit card processing.

The bank is also looking to provide financial advisory services in the metaverse and create virtual environments that users can use to interact for recreational, leisure or entertainment purposes.

And on Wednesday, HSBC took part in a project with the European Investment Bank (EIB) which saw the launch of the first-ever pound sterling-denominated digital bond using blockchain technology. The firm’s “HSBC Orion” tokenization platform was used in the creation of the bonds, and HSBC will serve as the central account keeper and record transactions in the digital bond on the HSBC Orion platform.

HSBC also participated in the Federal Reserve Bank of New York’s 12-week proof-of-concept CBDC pilot and is one of the 14 central and commercial banks collaborating with SWIFT in testing transactions with CBDCs and tokenized assets on existing financial infrastructure.

Binance defies crypto winter, will increase staff up to 30% in 2023

eBay goes on a crypto hiring spree

A report from Coindesk indicates that leading e-commerce site eBay is currently in the market for several Web3 aficionados who can help develop its KnownOrigin platform, an NFT marketplace that was acquired by the company in June. The open positions currently available at the online auction site include crypto counsel, Head of Community, marketing campaign executive, and content designer, among others. is an early Web3 pioneer, an NFT marketplace empowering a new generation of digital artists to express themselves, find an audience and earn a living from their passion,” the company said in the job posts. “And they're looking for like-minded enthusiasts to join them in their venture!”

These job postings from eBay are not surprising as the company has been slowly entering the NFT market over the past several years. In May 2021, eBay formally announced that it would allow the sale of NFTs and has since launched several projects including an Muhammad Ali NFT collection that was launched in collaboration with Sports Illustrated. And earlier this week, eBay teamed up with fan engagement platform Notable Live to onboard users to digital collectibles.

Disclaimer: The views expressed in this article are those of the author and may not reflect those of Kitco Metals Inc. The author has made every effort to ensure accuracy of information provided; however, neither Kitco Metals Inc. nor the author can guarantee such accuracy. This article is strictly for informational purposes only. It is not a solicitation to make any exchange in commodities, securities or other financial instruments. Kitco Metals Inc. and the author of this article do not accept culpability for losses and/ or damages arising from the use of this publication.