19 Jan 2019
HSBC states it settled $250 bn of forex deals on blockchain
The bank announced on Monday it settled over 3 million trades and 150,000 payments worth $250 billion since February, suggesting blockchain technology is actively used in day-to-day operations.
HSBC has not revealed any specific transaction data points as it represents only a fraction of the entire book.
The bank mentioned it lowered the operation risks, automated manual processes, reduced costs and their dependency on external technology.