Global banks are scanning clients in Hong Kong on potential political ties amid protests over China-initiated national security law. Major international banks like Credit Suisse and HSBC are reportedly scrutinizing their Hong Kong clients amid the ongoing protests over China-backed national security law. According to a July 19 report by Reuters, global banks including Credit…
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Singapore-based DBS bank joins blockchain trade-finance network Contour to disrupt its letters of credit settlement process. Singapore-based multinational banking firm DBS Bank has joined the blockchain trade-finance network Contour, which is built over R3’s Corda. Contour is due for a main-launch later this year. According to a May 11 report by the business news outlet…
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Bitcoin is battling to resume its bullish trend, and Vitalik Buterin reveals the details of the Ethereum 2.0 roadmap to Cointelegraph. Coming every Sunday, Hodler’s Digest will help you track every single important news story that happened this week. The best (and worst) quotes, adoption and regulation highlights, leading coins, predictions and much more —…
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HSBC plans to drop $100 billion in risk-weighted assets and 35,000 jobs in the next three years to invest more in digital finance. In an earnings call held on Tuesday, Feb. 18, an HSBC executive revealed the bank plans to cut 35,000 jobs by the end of 2022 and invest more in digital systems. The…
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The Department of Economic Development of Dubai has established a KYC blockchain consortium with six major banks. One of the financial hubs of the Middle East, the United Arab Emirates (UAE), is continuing to expand blockchain-driven developments. The Department of Economic Development (DED) of Dubai has established a Know Your Customer (KYC) blockchain consortium with…
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British banking giant HSBC will digitize paper-based records of $20 billion in private placements with blockchain technology by March 2020. British banking giant HSBC plans to move $20 billion worth of assets to Digital Vault, a new blockchain-based custody platform by March 2020. By deploying the platform, the global investment bank aims to digitize paper-based…
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The need for censorship-resistant currencies like Bitcoin has been thrown, yet again, into stark relief as HSBC shutters an account reportedly used to fund Hong Kong protestors. The need for censorship-resistant currencies like Bitcoin (BTC) has been thrown, yet again, into stark relief as HSBC shutters an account reportedly used to fund Hong Kong protestors. …
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HSBC will explore the use of distributed ledger technologies for bond issuance in a joint trial with the Singapore Exchange and Temasek. Global banking giant HSBC will explore the use of blockchain for the issuance of fixed income securities in a joint trial with Singapore Exchange (SGX) and investment firm Temasek. Focused on the Asia…
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