HSBC Facilitates India's First Blockchain Trade Finance Transaction

HSBC recently facilitated India’s first blockchain trade finance transaction. This development reinforces the narrative that despite the negative stance towards cryptocurrency in India, there is some focus on the benefits of blockchain technology in the country. Details of the Transaction According to The Times of India, the British Banking behemoth recently executed a trade finance…

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HSBC Completes Blockchain-Based Transaction for India’s Reliance Industries | BTCMANAGER

The British multinational banking organization HSBC and Belgium’s ING Bank have partnered to execute a trade transaction using the blockchain network from a U.S.-based Tricon Energy to India’s Reliance Industries. According to an Economic Times article published on November 4, 2018, the blockchain-enabled letter of credit transaction is the first of its kind for India…

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HSBC, BNP Paribas, StanChart, Others Launch Hong Kong Blockchain Trade Finance Platform

A new blockchain trade finance platform developed by a dozen banks, among them HSBC, BNP Paribas, and Standard Chartered, launched this week in Hong Kong, Reuters reported Oct. 31. The platform, dubbed eTrade Connect, aims to improve efficiency in the financing of international trade by reducing the time needed to approve trade loan applications from…

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Dumped! HSBC Cuts Ties With Bitfinex

HSBC has dumped Bitfinex unceremoniously after learning the company it thought it had established a banking relationship with, Global Trading Solutions, was affiliated with Bitfinex and doing its banking on the controversial exchange’s behalf. Explaining the Fiat Deposit Problems In anticipation of the potential collapse of Puerto Rico-based Noble Bank International, Bitfinex took its banking…

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Bitfinex Responds To Insolvency Rumors

After dissolving its relationship with Noble Bank, rumors swirled about Bitfinex’s imminent implosion. The exchange has now responded to the rumors. Last week, rumors about the possible insolvency of exchange Bitfinex quickly followed reports that Noble Bank International, the Puerto Rican institution that counted Bitfinex and Tether among its clients, was looking for a buyer….

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Bitfinex Strongly Refutes Insolvency Claims

Bitfinex has vigorously refuted claims that it and its Tether stablecoin are on the brink of insolvency. Rumors have surrounded the opaque exchange for over a year, but have intensified in the past month. “Bitfinex is not insolvent, and a constant stream of Medium articles claiming otherwise is not going to change this,” asserts a…

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Bitfinex Banking with HSBC While Complaints of Withdrawal Delays Reach Fever Pitch

One of the most controversial crypto exchange has apparently secured a bank account with HSBC through an entity called “Global Trading Solutions.” However, it is unclear whether HSBC is aware that Global Trading Solutions is seemingly using the bank account on behalf of Bitfinex. Just as it is unclear whether this arrangement extends to Tether….

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HSBC is looking at cryptocurrency use cases, a “Cautious” approach

Banks have an on-off relationship with the cryptocurrency world. The fact that Barclay recently tied-up with Coinbase in May proves the potential of banks and cryptocurrency collaborations. On the other hand, HSBC has stated to have a “Cautious” approach to the same as per Forbes. According to Forbes, Josh Bottomley, the Global Head of Digital…

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Video digest, May 17: FedEx Calls to Adopt Blockchain Technology, HSBC Performed the First Transaction via Blockchain, Blockchain enters Poland’s financial market

Coinidol.com broadcasting video digest. News on May 17: FedEx Calls to Adopt Blockchain Technology, HSBC Performed the First Transaction via Blockchain  Blockchain enters Poland’s financial market FedEx Praises Adopting Blockchain Tech in Digital World Frederick Smith,  Chairman and Chief Executive Officer of logistics giant Fed Ex, is more zealous on his commitment to clasping blockchain technology…

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HSBC Deems Blockchain Infrastructure for Trade Finance Commercially Viable

Blockchain technology can be a viable tool when put in the right hands. HSBC is one of the many banks exploring the boundaries of this innovative technology. The company recently conducted and completed its first trade finance deal using a distributed ledger. It’s a very positive development for the blockchain industry, as global adoption seems imminent….

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HSBC, ING Conduct Trade Finance Transaction Using Blockchain

Banking and financial services organization HSBC and Dutch bank ING have conducted their first live trade finance transaction using the blockchain technology. The value of the transaction has not been disclosed. HSBC and Dutch bank ING successfully completed the transaction for US-based agriculture company Cargill. A shipment of soybeans was transported from Argentina to Malaysia,…

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HSBC Adopting SWIFT’s gpi as Service Continues to Gain Traction

SWIFT’s global payments innovation (gpi) service has garnered a notable addition to its overall network, adding one of the world’s largest banks in HSBC. The SWIFT gpi continues to gain market traction in 2018, covering over 220 country corridors despite only being in service for a year. HSBC is the latest addition to the gpi…

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