Tag: HSBC

One of Spain’s leading banks, Banco Bilbao Vizcaya Argentaria (BBVA), has successfully signed off the terms of a $150 million syndicated loan with the help of blockchain technology, reports Finextra, November 7, 2018. Multi-million Loan carried over a Private Blockchain Notably, the syndicated loan transaction was carried out over a private blockchain network in the presence of two legal advisors,…

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The British multinational banking organization HSBC and Belgium’s ING Bank have partnered to execute a trade transaction using the blockchain network from a U.S.-based Tricon Energy to India’s Reliance Industries. According to an Economic Times article published on November 4, 2018, the blockchain-enabled letter of credit transaction is the first of its kind for India and has significantly reduced the…

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HSBC, in partnership with Standard Chartered and ten other banks, rolled out a new blockchain-powered trade finance program called eTrade Connect on October 31, 2018. The new platform aims at removing unwarranted delays hampering the efficiency of international trade. Blockchain for Automating Trade Finance Process eTrade Connect builds on the services of twelve major global and domestic banks including HSBC,…

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Herve Falciani, former HSBC Holdings Plc computer specialist, convicted of industrial espionage, is promoting a new cryptocurrency called Taboow amid extradition battle with Switzerland, Bloomberg reported on September 12, 2018.  Supporting a New Spanish Cryptocurrency According to Bloomberg, Herve Falciani, a French native wanted on charges of industrial espionage in Switzerland, has entered the cryptocurrency game while awaiting a Spanish…

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Banks and cryptocurrencies have not always been the best of friends, though the former is beginning to loosen up a bit. In the latest development, HSBC’s Global Head of Digital said on July 19, 2018, that the finance heavyweight is taking a ‘”cautious” approach towards cryptocurrencies due to the super volatile nature of digital assets. Tokenization better than Speculation In an…

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HSBC Holdings announced that it had completed its first scalable blockchain-based trade finance transaction through which it has concluded that blockchain is ready for mass adoption in the trade finance market. HSBC revealed that it concluded that blockchain is a commercially viable technology after processing a letter of credit on behalf of Cargill, a large food and agricultural conglomerate based…

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In a bold and encouraging move forward, HSBC along with The Bank Of China Hong Kong have publicly addressed their plans to implement blockchain technology in select mortgage services and property valuation models by mid-November 2016. This veer towards the brilliant blockchain “Tech-topia” is a result of the substantial resistance from regulators in big banking, according to Duncan Wong from…

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