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.