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.
Once known as a skeptical institution of crypto, HSBC originally announced its first major move into metaverse in mid-March.
HSBC debuts metaverse investment fund in Asia: Report
Partnership hopes to promote financial literacy via gamified experiences within the metaverse.
HSBC enters The Sandbox to offer educational finance games
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.
HSBC and IBM create successful multi-ledger CBDC demo
Juniper research report says cost savings for banks using blockchain tech could grow by 3,300% by 2030.
Wells Fargo partners with HSBC to settle FX transactions using blockchain
Banking giant HSBC echoes global stablecoin concerns, calling for regulation to be equivalent to its adoption level.
HSBC CEO backs CBDCs against crypto and stablecoins
“We take our duty as a responsible lender seriously and want to do everything we can to protect you,” HSBC UK reportedly wrote.
HSBC UK cuts credit card payments to Binance
HSBC plans to improve the KYC process for local investors and corporate clients by leveraging blockchain technology.
HSBC becomes first foreign entity onboarded to Dubai’s KYC blockchain