HSBC and Singapore Exchange Execute Successful $300M Digital Bond Issuance
Corporate bonds from Olam International – a major commodities supplier – were issued on SGX's digital asset platform.
The CEO of one of Europe's largest banks points to bitcoin's volatility as the primary reason for not pursuing a digital asset trading desk.
An HSBC representative said the bank has “limited appetite to facilitate products or securities that derive their value from virtual currencies.”
Data shared over the platform's blockchain enables institutions to see shared data about new customers.
HSBC said the transaction over the Contour trade finance blockchain platform slashed the time normally taken to process letters of credit.
Ian Jenkins joins fellow HSBC alum James Emmet, now the stablecoin group's CEO.