- Tags: Finance, Blockchain, Cross-Border Payments, FX Transactions
- Companies: HSBC, Wells Fargo
- Date: 14.12.2021
- Digest: Weekly Digest
HSBC and Wells Fargo plan to start foreign exchange (FX) transactions using a blockchain-based solution. By the bilateral agreement banks will use a shared settlement ledger to process transactions in US and Canadian dollars, British pound sterling, and Euro. Blockchain technology can reduce settlement risk and ensure real-time transparency of transactions. Read more