News
The two firms successfully executed cross-realm and end-to-end digital asset transactions with the pilot test, which can also settle securities and forex.
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HSBC News
HSBC is a British multinational financial services company founded in British Hong Kong in 1865 by Thomas Sutherland. HSBC bank is currently one of the largest banks in terms of revenue, total assets and operating income. Some of the major subsidiaries of HSBC are HSBC Bank USA, HSBC Bank PLC, The Hongkong and Shanghai Banking Corporation Limited, and HSBC Japan. HSBC mostly specializes in commercial banking, investment banking, wealth management and global private banking. HSBC was a part of numerous money laundering investigations by the U.K., U.S. and international authorities. The company was also a part of a foreign exchange (forex) scandal and London Interbank Offered Rate (LIBOR) scandal, both of which resulted with fines in favor of the authorities. However, HSBC Bank remains one of the most influential and robust international financial services in Europe and in the world.
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Juniper research report says cost savings for banks using blockchain tech could grow by 3,300% by 2030.
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Banking giant HSBC echoes global stablecoin concerns, calling for regulation to be equivalent to its adoption level.
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“We take our duty as a responsible lender seriously and want to do everything we can to protect you,” HSBC UK reportedly wrote.
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HSBC plans to improve the KYC process for local investors and corporate clients by leveraging blockchain technology.
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Having over 90,000 BTC on the balance sheet could see a company’s stock blacklisted by banks that remain crypto detractors.
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The investment banking giant now reportedly classifies MicroStrategy as a “virtual currency product.”
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A major global blockchain trade network welcomes one of Russia’s largest banks.
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Bitcoin grapples with $11,000 as money laundering engulfs the banking sector again and coronavirus spoils stocks sentiment.
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Top financial services experts continue to join the Libra project.
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Another massive Bitcoin ad rolls out in Hong Kong, urging citizens to “be their own bank.”
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DAML smart contract language is now used for digital bonds.
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Global banks are scanning clients in Hong Kong on potential political ties amid protests over China-initiated national security law.
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Singapore-based DBS bank joins blockchain trade-finance network Contour to disrupt its letters of credit settlement process.
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A blockchain trade finance platform developed by eight major banks, among them HSBC, BNP Paribas, and Citi, is now ready for commercial launch in Singapore in Q2 2020.
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