Global Banks Reportedly Limit Service in Hong Kong for Political Reasons
Global banks are scanning clients in Hong Kong on potential political ties amid protests over China-initiated national security law. Go to Source Powered by WPeMatico
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DBS Bank Joins Global Blockchain Network to Digitize Trade Settlement
Singapore-based DBS bank joins blockchain trade-finance network Contour to disrupt its letters of credit settlement process. Go to Source Powered by WPeMatico
World’s Largest Banks Losing Stock Value During Weeks Marked by Pandemic
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 a shrinking asset base. Also read: US Cash Crisis: Withdrawal … Read more
HSBC: Blockchain Platform Will Keep Trade Finance Smooth Despite Coronavirus
The platform’s backers claim that using the blockchain can keep trade financing running smoothly even in times of global crises like the coronavirus Go to Source Powered by WPeMatico
Bitcoin’s Bullish Battle, Ethereum 2.0, BCH Faces ‘Slow Death’: Hodler’s Digest, Feb. 17–23
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 Go to Source Powered by WPeMatico
Major HSBC Layoffs: 35,000 Job Cuts and Massive Restructuring Announced
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 and simplification programs in the bank’s history,” explained interim CEO … Read more
HSBC to Drop 35,000 Jobs and Invest in Digital Finance
Banking giant HSBC plans to terminate about 35,000 of global jobs while doubling down on disruptive technology Go to Source Powered by WPeMatico
Dubai Gov’t to Launch KYC Blockchain Consortium in Q1 2020
Dubai government to launch a KYC blockchain consortium in collaboration with six banks in Q1 2020 Go to Source Powered by WPeMatico
HSBC Closes 2 Branches Following New Protests in Hong Kong
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 overnight services at 19 other ATM locations … Read more
HSBC to Digitize Private Placement Records to Track $20B in 2020
HSBC to digitize private placements records worth $20 billion using a new blockchain-based custody platform by March 2020 Go to Source Powered by WPeMatico
