2019-2-14 17:00 |
An HSBC executive has told Reuters that using blockchain slashed the costs of settling foreign exchange trades.
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The Hong Kong branch of the international HSBC bank is set to continue to work with the authorities on initiatives such as digital currencies for cross-border payments. HSBC Hong Kong is accelerating its work with local authorities on the implementation…
The news comes a day after HSBC, one of the world's largest banks, said it plans to start a digital-assets custody service for institutional clients.
HSBC Holdings Plc, one of the world’s leading bullion banks, has launched a blockchain-based platform to modernize the traditional and manual processes of the London gold market. The new platform tokenizes ownership of physical gold housed in HSBC’s London vault, offering a digital representation of gold bars for trading.
HSBC will offer access to three ETFs listed on the Hong Kong Stock Exchange, including CSOP Bitcoin Futures ETF and CSOP Ethereum Futures ETF. The banking behemoth also launched a new service dubbed Virtual Asset Investor Education Center that offers educational and risk disclosure materials for customers.
HSBC, Hong Kong’s largest bank, has made a historic move by opening its doors to cryptocurrency investments. The bank has reportedly started offering its customers access to Bitcoin and Ethereum Exchange-Traded Funds (ETFs) listed on the Hong Kong exchange.
Three crypto ETFs listed on the Stock Exchange of Hong Kong are now reportedly available for trading at Hong Kong’s largest bank.
Customers will be limited to payments of 1,000 pounds ($1,218) per day and 5,000 pounds over a 30-day period.
