HSBC’s CEO Explains Why Crypto Is Not in the Banking Giant’s Future
Banking giant HSBC will not be offering crypto services, according to CEO Noel Quinn. Noting that HSBC is more negative on crypto than other banks, the executive stressed: “I do worry about the sustainability of the valuations of crypto.” HSBC Will Not Get Into Crypto, CEO Says The chief executive of HSBC, Noel Quinn, talked about his bank’s cryptocurrency stance in an interview with CNBC-TV18 last week. He confirmed: As a bank, we’re not getting into the crypto world, crypto trading, crypto exchanges. Emphasizing that cryptocurrencies are....
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Crypto is not part of every banks’ strategy for the future. HSBC, one of the world’s biggest multinational banks, says they’re not too confident about crypto and thus, will not be offering any service related to it in the future. Noel Quinn, HSBC CEO, says: “I do worry about the sustainability of the valuations of […]
Laser Digital, Nomura’s bitcoin and crypto focused unit, will reportedly launch an institutional trading platform by the first quarter of next year.
Bitcoin price has taken a major hit since Mt. Gox, but that has not stopped Bitcoin from building a worldwide infrastructure that has led to massive expansion opportunities. It seems to have traded price for a deeper market penetration, in every sector of modern society. Bitcoin has already made a connection with online consumer payment giant PayPal, and now commercial banking may be its next conquest. The Future of Banking is faster and less expensive. At a panel meeting sponsored by Society for Worldwide Interbank Financial Telecommunication (SWIFT) this week, correspondent banking....
HSBC, the fourth largest bank in the world is now steadily returning to normalcy after being hit by a system glitch that left thousands of users unable to log into the system. This instance adds to the list of several cases where the need for a complete overhaul of the existing banking system has been felt. A system based on the Bitcoin infrastructure can be a good solution. HSBC UK witnessed a technical glitch two days ago which prevented its users from accessing the bank’s site, and in some cases, also the mobile banking application. Outraged users even complained that they were charged....
Once known as a skeptical institution of crypto, HSBC originally announced its first major move into metaverse in mid-March. Global banking giant HSBC Holdings has rolled out its metaverse investment product for wealthy clients in Singapore and Hong Kong, according to multiple media reports.Called Metaverse Discretionary Strategy portfolio, the new product is managed by HSBC’s asset management arm, HSBC Asset Management. The fund aims to provide high net worth professional investors and accredited investor clients with exposure to new investment opportunities in the metaverse....