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.
A new trial will examine if digitalizing fixed income securities with DLT can bring new efficiencies to the Asian markets.
HSBC has carried out the first blockchain-based letter of credit transaction denominated in Chinese yuan.
HSBC plans to track $20 billion in private-placement assets on its Digital Vault, allowing investors real-time access to their records.
HSBC's Jesse Drennan asked the CFTC to make more "positive noise" about distributed ledger tech to spur business adoption.
Financial messaging giant Swift has teamed up with Singapore Exchange and several major banks to trial a DLT platform for shareholder voting.