R3, HSBC Experts: Collaboration is Key for Blockchain Potential
HSBC and its partner, Bank of America’s Merrill Lynch, recently published a proof of concept to demonstrate how Blockchain-powered contracts can be used to replace paper letters of credit which are commonly used in international trade. R3 Consortium, on the other hand, completed two prototypes which demonstrate how distributed ledger technology can address the key challenges facing the USD 45 billion global trade finance industry. However, in separate interviews, when officials of both institutions spoke about the Blockchain technology, the key concept which permeated their conversations....
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UK-based banking giant HSBC sees blockchain technology to benefit state-installed central banks, institutions that are tasked and responsible for a country's economic growth and wellbeing. In a document obtained by Business Insider, HSBC sees the potential of blockchain technology to transcend private and investment banks and influence or even enhance central banks' policies. The publication reports that HSBC sees central banks' current method of helping the economy through interest rates has a few drawbacks. Notably, there's no guarantee of the money pumped into the real economy as the....
International financial institution HSBC is looking for marketing interns to join their team this summer. So it's no surprise they are taking to employment testing websites like GapJumpers to try and identify who the best candidate for the role is. Identified by Reddit user 'yakka2', HSBC is asking potential marketing intern candidates to outline bitcoin benefits as they apply to the HSBC business model in the form of a position paper. Here's the full text from the prompt (found here). HSBC is one of the leading international banks. Technology plays a big part of the banking world....
HSBC has confirmed its bitcoin and cryptocurrency stance as a growing number of major banks are beginning to offer crypto services. CEO Noel Quinn says that HSBC views bitcoin as an asset class rather than a payments vehicle but the bank is not rushing into providing cryptocurrency investments for clients. HSBC Confirms Crypto Stance HSBC CEO Noel Quinn said that the bank “has no plans to launch a cryptocurrency trading desk” or offer cryptocurrencies as investments to customers, Reuters reported Monday. Quinn was quoted as saying: “Given the volatility we are not into....
HSBC is adding Chris Larsen, the former CEO of distributed ledger firm Ripple, to its newly minted technology advisory board. Larsen currently serves as the startup's executive chairman, having stepped down as Ripple CEO in November. At the time, he handed the reins to Brad Garlinghouse, a former executive for AOL. According to HSBC, Larsen and other advisory board members will offer "advice and guidance" on a range of issues, including potential applications of blockchain tech. Andy Maguire, HSBC’s group chief operating officer, said in a statement: "We have made....
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....