Today
Reuters reported that HSBC will launch a blockchain-based solution to enable shareholders to access stock details in real-time. Focusing on private placements, the bank expects to move $20 billion of assets into the Digital Vault by March 2020.
The exercise aims to digitize a currently paper-based approach. Overall HSBC custodies $50 billion worth of these types of assets. That’s a tiny fraction of the $7.4 trillion in total assets that HSBC looks after. Although HSBC Securities Services is one of the top ten global custodians, it lags behind BNY Mellon with $34.5 trillion under custody.
Two weeks ago
HSBC Singapore announced a blockchain trial with the Singapore Exchange (SGX) and state-owned Temasek for servicing fixed income securities.
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