HSBC’s blockchain-based system HSBC FX Everywhere slashed forex trading costs by 25%. 3,500 to 5,000 trades a day are taking place on the FX Everywhere platform. Mark Williamson, chief operating officer of FX cash trading and risk management for HSBC, revealed that the bank’s blockchain-based system has helped it cut Forex trading costs by 25%. The blockchain-based platform named “HSBC FX Everywhere” had settled more than $250 billion in transactions last month. Williamson also revealed that 3,500 to 5,000 trades a day are taking place on the FX Everywhere platform, with trades now worth $350 billion. He said: “We’re able to demonstrate that this is not a one-off proof of concept or just one or two trades.” HSBC has been pretty active on the blockchain front: In 2015 they joined the R3 blockchain consortium. They teamed up with Bank of America and the Singapore government to work on a blockchain supply chain trial. They also joined the Utility Settlement Coin (USC) project to make it easier for global banks to conduct a variety of transactions. FX Street FX Street FXStreet is the leading independent portal dedicated to the Foreign Exchange (Forex) market. It was launched in 2000 and the portal has always been proud of their unyielding commitment to provide objective and unbiased information, to enable their users to take better and more confident decisions. View All Post By FX Street Crypto News share Read Next USD/INR Technical Analysis: Trapped between key MAs, bullish above 71.82 FX Street 3 years HSBC's blockchain-based system HSBC FX Everywhere slashed forex trading costs by 25%. 3,500 to 5,000 trades a day are taking place on the FX Everywhere platform. Mark Williamson, chief operating officer of FX cash trading and risk management for HSBC, revealed that the bank's blockchain-based system has helped it cut Forex trading costs by 25%. The blockchain-based platform named "HSBC FX Everywhere" had settled more than $250 billion in transactions last month. Williamson also revealed that 3,500 to 5,000 trades a day are taking place on the FX Everywhere platform, with trades now worth $350 billion. He said: "We're… Regulated Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.
