Technology

HSBC’s plan to move $20B in assets to blockchain could be a watershed moment

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Investment bank HSBC Holdings is using a blockchain distributed ledger technology (DLT) to digitize transaction records of private investments, enabling clients globally to access the details of their assets online in near real-time.The London-based company, the seventh largest bank in the world, plans to move $20 billion in assets that include equity, debt and real estate onto its new Digital Vault blockchain, a shift away from its current use of paper records to respond to client search requests.[ Read the Download: Beginner's guide to blockchain special report ]"The Digital Vault is live in Asia and will be rolled out in the U.S.

and Europe in the first quarter of 2020," an HSBC spokesperson said via email.




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Category: Technology


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