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HSBC settles FX deals worth $250 billion on blockchain in last year

Reuters  |  LONDON 

By Tom WilsonLONDON (Reuters) - HSBC has settled $250 billion worth of forex trades using blockchain in the last year, it said on Monday, suggesting the heavily hyped technology is gaining traction in a sector until now hesitant to embrace it. The bank has settled over three million forex trades and made over 150,000 payments since February using blockchain, it said in a statement. HSBC would not give data on forex trades settled by traditional processes, saying only that those settled by blockchain represented a "small" proportion. Still, the data marks a significant milestone in the use of ...

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First Published: Mon, January 14 2019. 23:36 IST
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