The HSBC Gold Token, launched by HSBC Hong Kong for retail investors, has reached a trading volume exceeding $1 billion, with over 100,000 transactions, securing its position as the third-largest globally. Priced in Hong Kong dollars and approved by the Hong Kong SFC, it stands as the only compliant real-world asset (RWA) product available to retail investors. Analysts from BiyaPay suggest this development marks a shift in the RWA sector from institutional experimentation to retail adoption, as traditional assets like gold are increasingly integrated with blockchain technology. With regulatory clarity and improved liquidity, tokenized physical assets are poised to become a significant sector in the crypto market by 2025, driven by the demand for stable returns and secure value storage.