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HSBC states that blocks will reduce Forex trading costs 25%

HSBC's director said that the bank's bank system helped them significantly reduce the costs of foreign exchange.

Speaking to Reuters, Mark Williamson, COO in exchange for Forex trading and risk management, who was overseen the command, said: a blockchain project, the HSBC FX Everywhere platform helped the down-down costs up to 25% compared to traditional modes.

Remembering her & # 39; Last month, the bank announced that it moved more than 250 billion dollars in the use of HSBC FX Everywhere platforms.

The bank also said that more than 3 million Forex operations were carried out, which gave more than 150,000 payments through the digital accounting system that they have used last year to "Orcastrate payments through opportunities within HSBC within the organization".

In the Reuters report, Williamson said HSBC is a process of between 3,500 and 5,000 of everyday business in FX Everywhere, with up to 350 billion dollars in business. Here, Williamson said:

"We were able to show that this is a probation-proof (PoC) or a system that is handled only one or two."

On the other hand, Reuters also said that Williamson is considering an interest "Many" transfer of internal money through the DLT system.

HSBC has been trying to block block technology for a long time. Since joining the R3 block partnership in 2015, he joined the American Bank (BoA) and the Singapore government to carry out block tests.

HSBC was also committed to work on its. The Setin Coin Utility project (USC), designed to make the world's banks easier for a series of things to do with each other by using a mutual asset of normal obstacles .

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