HSBC FX EVERYWHERE BLOCKCHAIN PLATFORM The HSBC FX Everywhere platform uses distributive ledger technology to provide a secure, transparent service for foreign exchange transactions in dozens of countries across multiple balance sheets.
The platform has been in operation since approximately January 2018 and settled over 730,000 individual trades by May 2019, to a total value of $750 billion.
Key Benefits of the HSBC FX Everywhere Blockchain Platform
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Thibaut De Roux
$750 billion
THE HSBC FX EVERYWHERE PLATFORM IS FOUNDED ON SECURE BLOCKCHAIN TECHNOLOGY WHICH CREATES A MORE EFFICIENT SYSTEM.
Transparency, Singularity and Immutability The platform brings transparency, singularity and immutability through a single, shared version of the facts of intra-company trades, reducing risk of delay and discrepancy from execution right through to settlement.
Orchestrating Payments Payments are orchestrated through the platform in an automated process for confirmation and settlement. Transactions are automatically matched and netted, which lowers costs and reduces reliance on networks for settlement from external sources.
Optimising Balance Sheets Balance sheets are optimised as the certainty of funds are assured throughout the entire funding cycle, and forward cash flows are presented in a global consolidated view.
Thibaut De Roux
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You can learn more about how blockchain is cutting foreign transaction time by visiting the blog of Thibaut de Roux.