March 24, 2020

Blockchain in Banking

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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