HSBC Exec Says Using Blockchain Slashed Forex Trading Costs by 25%
An HSBC executive has told Reuters that using blockchain slashed the costs of settling foreign exchange trades.
Bitcoin is often criticized for its volatility – now analysts are saying that, and more, about the pound sterling.
Forex giant CLS is now using a blockchain to handle certain currency trades, but the technology is “not essential” for the task, an executive admits.
Texas' securities watchdog ordered Mirror Trading International to cease operations, alleging the South African bitcoin and forex "investor club" is a multilevel marketing scam.
The agency that regulates and manages China's foreign exchange reserves will trial a blockchain system addressing inefficiencies in cross-border trade.
Several years back Citi tested a bank-backed cryptocurrency similar to JPMCoin. The lesson it learned? It's easier to rely on SWIFT.