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

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

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…

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Raiffeisen Bank, Gazprom Collaborate to Issue Blockchain-based Bank Guarantee

Raiffeisen Bank, Gazprom Collaborate to Issue Blockchain-based Bank Guarantee

The Russian branch of Raiffeisen Bank International has teamed up with major oil firm Gazprom Neft to issue a blockchain-based bank guarantee. According to the report published by Russian newspaper Kommersant, the bank guarantee was issued to conduct a trade finance transaction comprising of Raiffeisen, Gazprom Neft, Belarusian firm Mozyr Oil Refinery, and Priorbank of…

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The Global Cryptocurrency Market is Set to Grow on the Widespread Adoption of Bitcoin

According to data compiled by Transparency Market Research, the global cryptocurrency market was valued USD 574.3 Million in 2017 and is projected to reach USD 6.7 Billion by 2025. It is also expected to register a CAGR of 31.3% during the forecast period. The market growth is attributable to bitcoin’s widespread adoption. Bitcoin has a had a meteoric rise…

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