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UK Finance launched a tokenized deposits pilot in partnership with six major banks, including Barclays, HSBC and Lloyds Banking Group. UK Finance, a trade association representing over 300 financial services firms in the United Kingdom, has launched a joint pilot project for tokenized sterling deposits (GBTD). The trade group began the pilot phase for the…
” Breaking: Silicon Valley Bank UK arm acquired by HSBC for one pound “ Global banking giant HSBC Holdings is coming to rescue the United Kingdom-based branch of the collapsed Silicon Valley Bank with a new acquisition. HSBC officially announced on March 13 that its subsidiary HSBC UK Bank is acquiring Silicon Valley Bank UK…
” UK banks HSBC, Nationwide to ban crypto purchases with credit cards: Report “ United Kingdom babanks HSBC Holdings and Nationwide Building Society are banning cryptocurrency purchases via credit cards for retail customers. They join a growing list of banks in the country to tighten restrictions on digital assets. A Bloomberg report on March 2…
” HSBC needs someone to helm its tokenization efforts “ HSBC, the British multinational bank that manages the largest amount of assets in Europe, doubled down on its interest in digital currencies. The bank is looking for a top executive to work with asset tokenization. On Jan. 30, HSBC opened the GPBW product director of…
“HSBC suspends exec Stuart Kirk over climate change remarks” British banking giant HSBC has suspended a top executive who argued during a recent public presentation that the financial risks of climate change were overblown and exaggerated by central bank officials and other policymakers. The suspended employee, Stuart Kirk, is global head of responsible investment at…
” HSBC debuts metaverse investment fund in Asia: Report “ 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 the Metaverse Discretionary Strategy portfolio, the new product is managed by HSBC’s asset management arm, HSBC Asset Management. The…
” HSBC enters The Sandbox to offer educational finance games “ HSBC, one of the largest European banks, with total assets of $2.4 trillion, announced its intention to buy a virtual plot of LAND within The Sandbox for an undisclosed amount. The new partners will develop opportunities for users to engage with sports, esports and gaming…
“# HSBC and IBM create successful multi-ledger CBDC demo ” On Thursday, HSBC and IBM announced the successful test of an advanced token and digital wallet settlement between two central bank digital currencies, or CBDCs, in a cloud environment. The experiment consisted of transactions between CBDCs, eBonds, and forex. IBM’s Hyperledger Fabric and enterprise technology…
“# Wells Fargo partners with HSBC to settle FX transactions using blockchain ” Wells Fargo has partnered with HSBC to use its blockchain tools for the settlement of bilateral foreign exchange (FX) transactions. Wells Fargo would use the HSBC-developed FX Everywhere platform for interbank FX transactions. Developed by HSBC in 2018, the blockchain settlement platform…
“# HSBC CEO backs CBDCs against crypto and stablecoins ” HSBC, the largest European bank with total assets of $3 trillion, maintains a skeptical stance on cryptocurrency while promoting the central bank digital currency (CBDC) development. HSBC Group CEO Noel Quinn penned an article, New forms of digital money could spur growth, outlining the firm’s commitment…