Three crypto ETFs listed on the Hong Kong Exchange are now reportedly available for trading at Hong Kong’s largest bank. Hong Kong and Shanghai Banking Corporation (HSBC), the biggest bank in Hong Kong, has reportedly introduced its first local cryptocurrency services. HSBC Hong Kong has enabled its customers to buy and sell Bitcoin (BTC) and…
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HSBC and Mastercard, two major players in the banking and payment industries, have submitted additional trademark applications related to cryptocurrencies with the United States Patent and Trademark Office (USPTO). Mastercard’s filing focuses on crypto and blockchain transactions while HSBC’s application focuses on metaverse banking and services related to non-fungible tokens (NFTs). HSBC and Mastercard Expand…
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Hong Kong’s banking regulator has reportedly exerted pressure on banks including HSBC, Standard Chartered, and Bank of China to engage with crypto clients. During a meeting last month, the Hong Kong Monetary Authority (HKMA) questioned why the banks had not accepted crypto exchanges as clients, The Financial Times reported, citing people familiar with the matter…. Read…
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Both HSBC and Scotiabank have not been supportive of cryptocurrency adoption in recent years. Amid the ongoing banking crisis in the United States, financial regulators continue scrutinizing major traditional finance companies like HSBC and Scotiabank. The Securities and Exchange Commission (SEC) has charged HSBC’s securities arm, HSBC Securities (HSI), and Scotiabank’s investment subsidiary, Scotia Capital,…
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On Tuesday, French officials conducted raids on five major banks located in and around Paris, including Societe Generale, BNP Paribas, HSBC, Natixis, and BNP’s Exane Bank, over alleged charges of money laundering and fiscal fraud. According to a spokesperson for France’s Financial Prosecutor’s Office (PNF), the preliminary investigation into four French banks and one international…
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According to reports, Shanghai Pudong Development Bank may acquire the China-based subsidiary of Silicon Valley Bank (SVB). Authorities in the Chinese city of Shanghai reportedly back the acquisition, which may help minimize the impact of SVB’s shutdown. In its statement following SVB’s demise, SPD Silicon Valley Bank reportedly said its operations remained stable. Shanghai Authorities…
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The British government and the central bank, the Bank of England, have facilitated a private sale of Silicon Valley Bank UK to HSBC, according to Chancellor of the Exchequer Jeremy Hunt. He stressed that “Deposits will be protected, with no taxpayer support.” British Government Announces Acquisition of Silicon Valley Bank UK by HSBC HSBC has…
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The U.S. Federal Deposit Insurance Corporation (FDIC) has announced that clients of Silicon Valley Bank (SVB) and Signature Bank (SBNY) can access their funds during normal banking hours on Monday, March 13, 2023. The FDIC stated that both banks’ deposits were made whole under the “systemic risk exception” approved by the U.S. Federal Reserve and…
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Global banking giant HSBC has acquired the UK subsidiary of now-collapsed lender Silicon Valley Bank for £1 ($1.21) after all-night talks between the government, regulators, and other prospective buyers. The deal excludes the assets and liabilities of SVB UK’s parent company. As of March 10, the UK arm of SVB had loans of around £5.5…
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HSBC Holdings Plc and Nationwide Building Society imposed limits on retail customers’ access to cryptoassets in another episode of UK banks reacting to the recent crypto industry legal and regulatory issues. HSBC said that, in February, it restricted customers from buying crypto with its credit cards, Bloomberg reported. The report quoted the bank as saying…
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