HSBC

Fintech World Forum 2019 in London

November 15, 2019
FinTech World Summit Forum 2019 (FinTech Conference) is based in London UK Europe as one of leading fintech events for global financial, finance and banking technology industry. Its focuses on Mobile Payments, Lending, Insurance, Blockchain, Bitcoin, Investment, Crypto, Regtech, Insurtech, Cryptocurrency, Wealth Tech and Wealth Management. Few topics are as pertinent as fintech, and cryptocurrencies

HSBC Malaysia Bank Sends First LC Transaction Using Blockchain

October 23, 2019
HSBC has enacted the countries’ first blockchain transaction with the execution of credit deal letters involved in the importation of resins from Singapore. It marks an excellent step for the Malaysian companies in the digitalization of trade. The Undertakings Involved A Malaysian company, Simply Packaging Sdn Bhd, got into a transaction with a company in Singapore, both companies

Swiss Financial Giant UBS Launches On We.Trade

October 17, 2019
Banking giant operating in Switzerland, UBS has announced it has gone live on its We.Trade blockchain platform for trade finance. The bank also announced that the platform will soon be adopted by other banks that are also members. As per bank’s spokesperson, the giant financial institution went live on we.trade from the start of October supporting services to small

HSBC Is First Bank to Finance Transaction Via Hyperledger on We.trade

September 2, 2019
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 Trade Review (GTR) reported on

HSBC Forex trading costs cut sharply by blockchain

February 14, 2019
HSBC has reduced the cost of settling foreign exchange trades by a quarter through its blockchain-based system, an executive overseeing the project told Reuters, offering a glimpse of the savings the technology could offer banks. The bank processes between 3,500 and 5,000 trades a day on its “FX Everywhere” system, settling trades worth $350 billion,

Blockchain Use In Banks Is At An All-Time High, Here’s What We Know

January 29, 2019
Despite being initially created as the driving force behind cryptocurrencies, specifically Bitcoin, Blockchain technology has certainly come on leaps and bounds over the past decade. Not only is it the scaffolding through which thousands upon thousands of cryptocurrencies are now being created, but it has become the technology of choice for leading banks searching for

HSBC used Blockchain Technology in 2018 for forex transactions worth over $250 Billion

January 18, 2019
Banking giant HSBC has revealed recently in a press release that it applied Blockchain technology in forex transactions amounting $250 billion in 2018. The press release stated that the bank successfully handled a whopping 3 million transactions through its homegrown blockchain platform called FX Everywhere which was launched in February last year. These figures are

US to cap overseas money transfers at $50,000

October 23, 2013
2013.10.23 The U.S. is introducing a ban on international wire transfers out of the country, while “the right to perform transactions with the national currency will be restricted to $50,000 USD for each reporting period for each account. This amount includes all deposits made and cash withdrawn from ATMs and bank branches.” JP Morgan Chase