HSBC to Settle Forex Transactions Using Blockchain

[OZER]

The banking giants will use a blockchain product to settle U.S. dollar, Canadian dollar, pound and euro transactions.

Wells Fargo and HSBC Bank said on Monday they will use a blockchain-based product for settling matched foreign exchange transactions.

The two banking giants agreed to use a shared settlement ledger to process U.S. dollar, Canadian dollar, British pound and euro transactions, with plans to expand the process to other currencies in the future.
The banks' blockchain-based settlement system uses HSBC proprietary technology built on Baton Systems "blockchain inspired" CORE distributed ledger technology, an HSBC spokesman told CoinDesk.
The announcement comes as other major Wall Street banks, such as Goldman Sachs, are reportedly looking to integrate blockchain technology into their regular processes.
JPMorgan is also looking to hire software engineers to focus on "Collateral Blockchain Tokenization," and is beefing up its Onyx division, which was created to oversee the development of JPM coin, the bank's wholesale payments token.

[Krivokid11]

Mr Sherman proved to be an embarassment to his constituents. He was so happy when his time was up as he couldn't respond to the rebutals made to what he was trying to get at.  Its the likes of him which is why the u.s is behind the rest of the world in regards to this new asset class. & Brian Brooks is a beast. Digital asset space is fortunate to have him as an advocate.

[flounder]

They make Gary gentler look bad

[neilwad]

$DBA

[moon_rocks]

Ask the 1500 new billionaires created during COVID to return the stolen currency?

[old_peculiar]

Citadel will pop next

[engdahl]

Inflation only stops when it finally kills the host. But it always comes back.

[percussionist]

Thanks sleepy creepy!

[Bogeyman]

Is it not simply that there is just too much money floating around globally and the 'rich' don't know what to do with it. So they invest in anything that might bring some positive ROI and this drives up prices and the spiral begins. And so the rich get richer and the rest of us can pay the price in the end by ball-outs, privatizations and loosing pensions.

[energumen]

Food and Energy prices seem to affect more Citizens than the other effects..... The FED seems to overlook a lot of citizens when they review prices....

[meme5lol200]

SEC is taking over Crypto!!!

[AlsoJustice]

Well done mini-documentary, usually the economics is poorly done by mass media.

[demorocz]

No

[Michael_Lee]

share!I can see mainstream media paintings Tesla as "3xp3ns1ve" but.....long term, 10 years: Tesla to $30k

[red_xephos12]

Hilarious, crypto to the Moon