March 24, 2020
It seems that the question of the applicability of blockchain technology by financial institutions is no longer standing. It is important not to be late: banks massively launch pilot projects or join existing platforms.
Institutional organizations place high stakes on digital assets: while ING is working on their integration into its offer, HSBC is already planning to transfer $ 20 billion of assets to a new custody platform on the blockchain in 2020.
Only in the last couple of months of 2019, many pilot projects have been held among large international banks: Commerzbank, Credit Suisse and UBS made their first transactions on the Deutsche Börse-HQLAx platform, Northern Trust is testing a blockchain for selling bonds in parts for mass investors. Santander early repaid the one issued on blockchain in September 2019 a $ 20 million bond. JP Morgan uses blockchain for automatic margin payments, and HSBC conducted two letters of credit transactions between Gulf companies.
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