Asia-focused lender HSBC said it settled $250 billion worth of forex trades using blockchain in the last year. Since February, HSBC has settled over 3 million forex trades and made over 150,000 payments using the distributed ledger technology.
Source: www.rttnews.com
HSBC settled $250 billion worth of forex trades using blockchain technology in 2018. Through its proprietary blockchain platform “FX Everywhere,” HSBC handled 3 million forex trades and made over 150,000 payments since its launch in February. Following the successful implementation inside the bank, HSBC is now exploring how this technology could help multinational clients to better manage foreign exchange flows.
