BitRss.com latest Crypto World News

Search and discover the latest Cryptocurrency updated Stories in Categories.

24-7 Cryptocurrency News about Blockchain, Technology and much more, only from Top Leading Sources.

Banking Giant HSBC Tracking $10,000,000,000 in Assets Using Blockchain-Powered ‘Digital Vault’

Banking Giant HSBC Tracking $10,000,000,000 in Assets Using Blockchain-Powered ‘Digital Vault’
Banking giant HSBC is replacing paper records with a blockchain-based platform to track $10 billion in private investments. Bank clients can use the platform, dubbed the “Digital Vault”, to access digitized records of securities that were purchased on private markets.
The platform reduces the time it takes for clients to check, search or verify transactions in real time, instead of needing to contact the bank for access to information on their holdings.

The upgrade from paper records to the Digital Vault comes as HSBC expects the value of the private placement market to soar to $7.7 trillion in two years, representing a 60% surge since 2017.
Ciaran Roddy, head of custody innovation at HSBC’s securities services arm, says that interest in private placements from sovereign funds across the world is on the up and up.
“With some of the yields that are on offer, we are definitely seeing an increase in demand.”
The Digital Vault is based on R3’s enterprise-grade, open-source blockchain platform Corda.
HSBC plans to shift another $10 billion in private placements to its digitized blockchain-based records, for a total of $20 billion.




(adsbygoogle = window.adsbygoogle || []).push();

Featured Image: Shutterstock/Mmaxer
The post Banking Giant HSBC Tracking $10,000,000,000 in Assets Using Blockchain-Powered ‘Digital Vault’ appeared first on The Daily Hodl .

BitRss.com shares this Contents always with License.

Thank you for Share!

   
Tumblr
LinkedIn
Reddit
VK
WhatsApp
Telegram

Search Crypto News


BITRSS | CRYPTOCURRENCY WORLD NEWS

The latest Top News, only from Leading exponents of BlockChain, Bitcoin and different Accredited Crypto Currency Sources.

Since 2015, our Mission was to Share, up-to-date, those News and Information we believe to represent in an Ethical and sincere manner the current Crypto Currencies World: everything you are looking for, in one place!

We have always tried to give priority to the News; for this reason we have designed BitRss.com simple and intuitive, usable by all Devices, fast and effective.


| LEARN MORE ABOUT |

24h Most Popular News

Please consider to Support BitRss.com!