#HSBC News

Bitcoin holders barred from depositing profits in UK banks

Crypto Holders in the UK Cannot Deposit Profits in Banks

January 10, 2021 by Wayne Jones at Bitcoin

For the past few months, Bitcoin has been rallying to all-time highs, but anyone who wants to take profits might struggle to cash into banks. It is because some banks are refusing transfers from bitcoin exchanges. HSBC, one of the world's largest banks, does not process cryptocurrency payments and does...

Global Banking Giant HSBC Puts $10B Private Placement on R3 Corda Blockchain

March 27, 2020 by Ogwu Osaemezu Emmanuel at Blockchain

HSBC, one of the largest financial services institutions in the world, has announced that it has stored $10 billion private placement records on the R3 Corda blockchain and the firm has made it clear that it plans to tokenize these private placements in the near future, according to reports on...

HSBC Ditches Paper-Based Model, Implements Native Blockchain for $20 Billion Private Securities Holdings

November 28, 2019 by Ashwath Balakrishnan at Blockchain

The securities custody arm of HSBC is migrating its private placements database from paper to its own native blockchain. This move, according to Reuters, will enable HSBC to give its customers across the globe consummate access to their private securities database, November 27, 2019. Nearly $20 billion worth of HSBC securities...

Britain’s HSBC Executes First DLT-Based Letter of Credit

September 3, 2019 by Ogwu Osaemezu Emmanuel at Blockchain

HSBC Bank, one of the biggest financial institutions in the world, has successfully completed its first distributed ledger technology (DLT) powered letter of credit transaction pegged to the Chinese yuan. HSBC Completes Letter of Credit on Voltron Per sources close to the development, HSBC Bank, one of the largest financial...

Hsbc Carries out the First Transaction on the Blockchain-Based Open Trade Platform

August 23, 2019 by Edoardo Vecchio at Blockchain

According to a press release dated August 22, 2019, HSBC has successfully fulfilled a transaction on we.trade platform, a blockchain-based solution that allows open trade between SME’s of different bank accounts and other trade opportunities thanks to smart contract technology. The Transaction HSBC, the British multinational banking and financial services...

SWIFT to Test Blockchain E-Voting Platform With Major Financial Entities

March 8, 2019 by Tokoni Uti at Adoption, Blockchain, Business, News

Shareholder voting is getting the blockchain treatment as SWIFT announced on March 6, 2019, that they will be testing out a new blockchain-based platform for that purpose with Deutsche Bank, DBS, HSBC. Put to a Vote All publicly traded companies rely on shareholder decisions before certain moves can be made,...

Oil Rig Blockchain Vakt Sea Sunset Purple Blue

Blockchain-powered Commodity Trading Platform Vakt Signs Four New Clients

February 26, 2019 by Aisshwarya Tiwari at Blockchain, Business, News, Platform

Vakt, a blockchain-powered oil trading platform based out of London has enrolled onshore companies responsible for two-thirds of all deals in the economically important waters of the North Sea, Financial Times reported on February 25, 2019. Vakt to Take the Sea by Storm Blockchain technology is making giant waves across...

HSBC Whistleblower Falciani to Launch a Clean Cryptocurrency for Regulators

February 12, 2019 by Priyeshu Garg at Blockchain, Business, News

Herve Falciani, a former systems engineer and whistleblower at HSBC, is collaborating with fintech experts in and academicians in Spain in order to develop a new cryptocurrency he thinks regulators could embrace, Reuters reported on February 8, 2019. "Ethical Token" Herve Falciani (Source: Reuters) Famous French whistleblower Hervé Falciani, whose...

Stuart Alderoty Ripple Blue Man Glasses HSBC

Former HSBC General Counsel Joins Ripple’s Legal Team

February 1, 2019 by Tokoni Uti at Business, Finance, News

Ripple has announced in a press release that Stuart Alderoty, a former HSBC General Counsel will be taking over the role of General Legal Counsel at Ripple, January 30, 2019. Welcome to Ripple Since September 2018, Ripple, a blockchain-based payment processor found itself without any general counsel for legal services and...

BBVA Completes $150 Million Syndicated Loan on Ethereum Blockchain

November 8, 2018 by Aisshwarya Tiwari at Altcoins, Blockchain, Business, Ethereum, Exchange, Finance, News, Platform, Tech

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...

HSBC Completes Blockchain-Based Transaction for India’s Reliance Industries

November 5, 2018 by Cindy Huynh at Adoption, Blockchain, Business, Finance, News

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...

HSBC, HKMA, and Ten Other Banks Join Forces to Launch Blockchain-Based Trade Finance Platform

November 2, 2018 by Priyeshu Garg at Blockchain, Exchange, Finance, News, Platform, Tech

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...

Industrial Espionage Convict Endorses New Cryptocurrency While Awaiting Extradition to Switzerland

September 14, 2018 by Priyeshu Garg at Altcoins, ICO/IEO, Investment, News

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...

HSBC Not Interested in Cryptocurrency Speculation, Supports Tokenization and Blockchain Technology

July 21, 2018 by Ogwu Osaemezu Emmanuel at Altcoins, Bitcoin, Blockchain, Business, News

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...

HSBC Concludes – “Blockchain Is Viable” After Successful Trade Deal

May 15, 2018 by Priyeshu Garg at Altcoins, Blockchain, Business, Finance, News, Tech

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...