HSBC completed $250B of blockchain-processed transactions in 2018

posted 7 months ago
HSBC is leaning more heavily on blockchain-based tools to handle the processes behind foreign-exchange trades, suggesting banks are finding solid applications for the technology used in cryptocurrencies.

The London-headquartered bank, a heavy-hitter in forex dealing, has processed more than 3M FX transactions worth $250B using blockchain technology in the past year. That represents a tiny sliver of its overall currencies business, but still offers a rare example of a blockchain-based product that has proven its worth in wholesale finance.
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