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World’s Largest Banks Losing Stock Value During Weeks Marked by Pandemic
25.3.2020
The spreading coronavirus infection is taking a toll on the global economy and traditional financial institutions are already hurting. The world’s largest banks have seen their stocks losing value over the past weeks and months while facing cash withdrawal pressure and preparing to deal with...
HSBC: Blockchain Platform Will Keep Trade Finance Smooth Despite Coronavirus
5.3.2020
The platform’s backers claim that using the blockchain can keep trade financing running smoothly even in times of global crises like the coronavirus
Bitcoin’s Bullish Battle, Ethereum 2.0, BCH Faces ‘Slow Death’: Hodler’s Digest, Feb. 17–23
23.2.2020
In this week’s Hodler’s Digest, BTC’s two scenarios in the week ahead, new details about plans for Ethereum 2.0, and CZ talks about the upcoming Bitcoin halving
Major HSBC Layoffs: 35,000 Job Cuts and Massive Restructuring Announced
22.2.2020
Banking giant HSBC has unveiled a major restructuring plan that includes 35,000 job cuts. The move came as the bank’s net profit plunged 53% last year. HSBC is also slashing $100 billion in assets and closing many branches. “This represents one of the deepest restructuring...
HSBC to Drop 35,000 Jobs and Invest in Digital Finance
19.2.2020
Banking giant HSBC plans to terminate about 35,000 of global jobs while doubling down on disruptive technology
Dubai Gov’t to Launch KYC Blockchain Consortium in Q1 2020
19.2.2020
Dubai government to launch a KYC blockchain consortium in collaboration with six banks in Q1 2020
HSBC Closes 2 Branches Following New Protests in Hong Kong
3.1.2020
HSBC had two of its Hong Kong branches closed on Jan. 2, the first working day of the year, following attacks by protesters during the latest anti-government demonstrations on New Year’s Day. The banking giant also closed seven indoor ATM clusters and announced on Friday it will suspend...
Banks Are Cutting 75,700 Jobs Worldwide
4.12.2019
Banks worldwide have announced major job cuts this year. Globally, 75,700 jobs are reportedly being eliminated, with the most recent announcement coming from Italy’s largest bank. Unicredit has become the latest major bank to unveil layoff plans, joining Deutsche Bank, Santander, Commerzbank...
HSBC Launches Digital Vault Platform; Shifts $20bn Worth Assets to Blockchain
28.11.2019
Serving the financial economy with its unprecedented banking services, the London-based HSBC bank is all set to make the first move in the fast-growing yet controversial technology arena of cryptocurrencies. The leading international banking giant has announced that it would shift assets worth...
HSBC to Digitize Private Placement Records to Track $20B in 2020
27.11.2019
HSBC to digitize private placements records worth $20 billion using a new blockchain-based custody platform by March 2020
HSBC to Track $20 Billion in Assets on a Blockchain Next Year
27.11.2019
HSBC plans to track $20 billion in private-placement assets on its Digital Vault, allowing investors real-time access to their records
HSBC Closes Account Used to Support Hong Kong Protesters
22.11.2019
For months on end, Hong Kong has been the scene of intensive confrontation between pro-democracy activists and its Beijing-supported government. It now seems the financial establishment has taken a side in this conflict. Banking giant HSBC has decided to close an account used to support the protest...
Spotlight on Bitcoin as HSBC Shuts Hong Kong Protest-Linked Account
19.11.2019
The importance of Bitcoin’s non-seizability has been highlighted yet again as HSBC closes an account reportedly used to fund Hong Kong protestors
HSBC, SGX and Temasek Explore Distributed Ledger Tech in Asian Bond Market
13.11.2019
HSBC has partnered with Singapore's state investment firm Temasek and Singapore Exchange to explore distributed ledger tech in the Asian bonds market
HSBC, SGX to Investigate if DLT Offers Efficiency Boost for Bond Markets
13.11.2019
A new trial will examine if digitalizing fixed income securities with DLT can bring new efficiencies to the Asian markets
HSBC Issues First Letter of Credit on a Live Blockchain in Malaysia, Involves Firm Importing Resins
16.10.2019
The list of use cases of blockchain just got bigger as banking giant HSBC has issued a Letter of Credit on a live blockchain. The transaction involves a company called Simply Packaging for importing resin from a Singaporean company. The European bank’s Malaysian arm was the issuing party, while...
HSBC Enacts a Letter of Credit on a Blockchain in Malaysia
16.10.2019
Major bank HSBC announces first successful enactment of a letter of credit on a blockchain in Malaysia
London Stock Exchange-Backed Nivaura Hires Senior HSBC Banker
9.10.2019
LSE-backed Nivaura hired a senior HSBC banker to boost adoption of the London-based fintech's blockchain process for capital markets legal documents
Banking Giant HSBC Set to Fire 10,000 More Employees
8.10.2019
The banking sector continues to suffer drastic layoffs as the global economic outlook remains uncertain. The latest financial institution reported to be set for cutting a massive amount of workers is HSBC, which has already announced firing thousands of people just a few weeks ago. Also Read:...
Massive Layoffs: Banks Cutting Nearly 60,000 Jobs Worldwide
30.9.2019
Banks are laying off workers across the globe as revenue declines throughout the sector. According to reports, banks have announced nearly 60,000 job cuts so far this year, with most of the layoffs happening in Europe, especially in Germany. Also read: Panic at 137 Bank Branches as RBI Limits...