Search Results for: HSBC

HSBC Becomes the First Bank to Finance Transaction via Hyperledger

Multinational banking giant, HSBC has reportedly become the first bank to complete a financial transaction using the blockchain trade platform, we.trade based in Europe.      Based in Dublin and established in 2017, we.trade is a blockchain trade platform that runs on the IBM Hyperledger Fabric. The platform allows clients to manage, track, and securely open account trade transactions between SMEs in Europe.    … Continue reading HSBC Becomes the First Bank to Finance Transaction via Hyperledger

HSBC Successfully Executes First Blockchain Letter of Credit in Malaysia

HSBC announced its successful execution of a pilot live blockchain letter of credit (LC) transaction in Malaysia on Oct. 14.   The LC was for the import of resin by Malaysia’s Simply Packing from a Singaporean company, as reported by Fintech News Malaysia. HSBC’s Malaysia was the issuing bank, while HSBC Singapore acted as the advising bank.   This … Continue reading HSBC Successfully Executes First Blockchain Letter of Credit in Malaysia

Oman Oil & Orpic Group and HSBC Digitize Trade Finance with the Execution of their First Blockchain Trade Transaction

On their 49th National Day, Oman Oil & Orpic Group and HSBC Bank Oman succeeded in carrying out their first trade transaction via blockchain technology. The transaction which according to the report, clarifies in a deeper way the commercial and functional potential of blockchain involved the shipping of polypropylene to Abu Dhabi National Carpet Factory … Continue reading Oman Oil & Orpic Group and HSBC Digitize Trade Finance with the Execution of their First Blockchain Trade Transaction

HSBC Chief Legal Officer Stuart Levey Gets Appointed as Libra’s New CEO, Expert in Dealing with Regulatory Backlash

The Libra Association appointed its first CEO, Stuart Levey, the Chief Legal Officer at HSBC Holdings. Levey will be overseeing the Libra digital currency and payments system and holds a strong compliance track record and is expected to join Libra in the coming months. However, HSBC has not shown the same upright compliance record. Levey … Continue reading HSBC Chief Legal Officer Stuart Levey Gets Appointed as Libra’s New CEO, Expert in Dealing with Regulatory Backlash

Bank of France Announces HSBC, Accenture Among the 8 Successful Applicants of the CBDC Experimentation Program

Earlier this year, Banque de France, the French central bank launched a program of experiments to test out the potential central bank digital money aimed for interbank settlements. Potential participants have been invited to submit their applications to experiment with the digital euro, and Banque de France announced the 8 successful applicants: Accenture, Euroclear, HSBC, … Continue reading Bank of France Announces HSBC, Accenture Among the 8 Successful Applicants of the CBDC Experimentation Program

Facebook-Backed Association Picks Another Former HSBC Executive as Libra Network's CEO

The Libra Association has appointed former chief executive of HSBC Europe, James Emmett, as the new managing director and CEO of Libra Networks. He will lead Libra’s operating subsidiary tasked with operating and developing the project’s crypto payments system. Earlier this year, Emmett left HSBC amid a strategy overhaul. He will now join the Libra … Continue reading Facebook-Backed Association Picks Another Former HSBC Executive as Libra Network's CEO

Libra Association Appoints Former HSBC Executive Ian Jenkins As CRO and CFO Of Payment Systems

Ian Jenkins, a former HSBC executive is joining Facebook’s Libra cryptocurrency and cross-border payments project as Chief Financial Officer. Libra Association has announced that it has hired Ian Jenkins as chief risk officer and chief financial officer (CFO) of Libra Networks to oversee a unit tasked with managing the anticipated digital currency’s payment system. Jenkins, most recently, served … Continue reading Libra Association Appoints Former HSBC Executive Ian Jenkins As CRO and CFO Of Payment Systems

HSBC Prohibits Clients from Trading Bitcoin-Backed MicroStrategy Stock

HSBC has ramped up its anti-crypto policy, restricting its clients from trading MicroStrategy stock as the banking institution deems it to be “a virtual currency product.” Although HSBC traders will be allowed to hold and sell their MicroStrategy shares, they will not be able to buy or trade new MicroStrategy stocks on HSBC’s investment platform, … Continue reading HSBC Prohibits Clients from Trading Bitcoin-Backed MicroStrategy Stock

HSBC CEO: No Plans for Launching Crypto Trading

HSBC revealed that the bank has no plan to offer virtual currency as investments to their clients by starting a cryptocurrency trading desk due to volatility and uncertain transparency, the CEO said Monday. Noel Quinn, CEO of HSBC, accepted an interview from Reuters on Monday said the bank has no plans or offer digital coins … Continue reading HSBC CEO: No Plans for Launching Crypto Trading

HSBC and Wells Fargo Utilize Blockchain Technology, Enhancing Foreign Exchange Transactions

HSBC and Wells Fargo have signed a strategic agreement to use a settlement ledger powered by blockchain technology when undertaking foreign exchange (FX) transactions. This move is deemed a stepping stone towards minimizing settlement risk. In a statement, Mark Jones, co-head of Macro, Wells Fargo Corporate & Investment Bank, welcomed this move and said: “We … Continue reading HSBC and Wells Fargo Utilize Blockchain Technology, Enhancing Foreign Exchange Transactions

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