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British banking giant HSBC plans to move $20 billion worth of assets to Digital Vault, a new blockchain-based custody platform by March 2020. By deploying the platform, the global investment bank aims to digitize paper-based records of private placements in order to increase standardization and speed up processes in
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According to the report, HSBC intends to move its current paper-based records onto its Digital Vault platform by March 2020, allowing investors to track securities in real-time. The U.K.-based bank will specifically digitize its private placement records, allowing investors to quickly check on holdings. Source
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Seismic shifts in the way banks do business are starting to be announced by global banking giants and it seems RippleNet/ODL is right at the epicenter. Ripple Partner Banks such as Santander, HSBC and SBI Group are starting to come out of the woodwork regarding RippleNet usage and expansion. This is the
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The need for censorship-resistant currencies like Bitcoin (BTC) has been thrown, yet again, into stark relief as HSBC shutters an account reportedly used to fund Hong Kong protestors. As the Hong Kong Economic Journal reported on Nov. 18, the British multinational bank recently closed a corporate account that was reportedly
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Global banking giant HSBC will explore the use of blockchain for the issuance of fixed income securities in a joint trial with Singapore Exchange (SGX) and investment firm Temasek. Focused on the Asia bond markets, the trial intends to streamline the bond issuance process and reduce associated costs by applying
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Major bank HSBC has announced the successful enactment of a letter of credit (LC) on a blockchain in Malaysia.The transactionEnglish language local fintech news outlet Fintech News Malaysia reported the development on Oct. 14, noting that the transaction involved packaging firm Simply Packaging importing resin from an unspecified Singaporean
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Multinational banking giant HSBC has reportedly become the first bank to complete financing transaction on European blockchain trade platform we.trade.Since we.trade started the project back in 2017, HSBC recently financed a transaction on the platform within a second round of pilots that started in June 2019, economics magazine Global
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