KB Topic Settled

HSBC Has Settled $250 Billion Worth of Transactions Using DLTs
HSBC Holdings, one of the largest banks in the world, has revealed that nearly $250 billion of trade settlements have been handled using Distributed Ledger Technologies (DLTs). Focusing on internal balance sheets for global transactions, a press release by the bank said that over 3 million foreign exchange transactions had been made, and 150,000 using HSBC's FX Everywhere platform. HSBC's interim global head of FX and commodities, Richard Bibbey, spoke of how DLTs have made internal processes more efficient: Following successful implementation inside the bank, we are now exploring how this technology could help multinational clients who also have multiple treasury centres and cross-border supply chains better manage foreign exchange flows within their organisations.

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