Blockchain Helps HSBC Save 25 percent on Forex Trades

Mark Williamson, chief operating officer of FX cash trading and risk management, said the bank’s blockchain system helped them to save 25 percent in forex trading; “We’re able to demonstrate that this is not a one-off proof of concept or just one or two trades,” Williamson said as reported by CoinDesk; the bank settled more than $250bn worth of transactions in the last month alone; the company has been testing blockchain since 2015 and recently joined a Utility Settlement Coin (USC) project for interbank transactions. Source.

  • Todd is the host of PitchIt: the fintech startups podcast, a weekly interview show featuring emerging fintech founders and leading venture capitalists. He is responsible for leading the content team which covers fintech through daily & weekly email newsletters, editorial, virtual events, and in-person conferences. He has been covering fintech, banking, and venture capital for more than 15 years, including speaking regularly at industry events.

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