HSBC Bank is among the world’s premier global investment banks. The bank is planning to launch a custodial platform to store records tied to $20 billion worth of assets. According to a report by <a href="https://www.reuters.com/article/us-hsbc-hldg-blockchain/hsbc-swaps-paper-records-for-blockchain-to-track-20-billion-worth-of-assets-idUSKBN1Y11X2">Reuters</a>, the revolutionary Digital Vault platform will allow investors to monitor their assets more efficiently.
<h2>HSBC Eyes New Investors</h2>
Moreover, according to the reports, the Digital Vaults platform will enable the investors to access information on the securities purchased on private markets; in real time. The multinational banking giants will enjoy huge amounts of profits by deploying the Digital Vault network. Also, HSBC is planning on landing more investors whose aim is to earn high interest.

In recent times, digitization has attracted a majority of financial institutions and many countries. Interestingly, the price by middlemen may eventually go down once<a href="https://www.cryptoknowmics.com/crypto/the-reason-banks-are-not-using-ripple-james-sangalli/"> HSBC</a> unveils its planned manifesto in March next year. Digital ledger technology(DLT) has been offered as the ultimate solution to settlement and cutting off middlemen in the transfer and recording ownership of financial products.
<h2>Financial Institutions have Invested Heavily on DLT and Crypto</h2>
Also, blockchain and cryptocurrencies have been the focus of the financial sector since their inception.Financial institutions have invested massively to explore the potential developments in the decentralized world. However, the adoption of its use is still low at the moment.

In conclusion,, HSBC is uncertain about the possible savings by the use of the Digital Vault project.  Ciaran Roddy, head of HSBC’s securities services division, stated that the interest in private placements from insurers is rising at an accelerated pace in the UK, the USA, and the Asian and Middle Eastern region. “With some of the yields that are on offer, we are seeing an increase in demand,” said Roddy.

HSBC Moves $20B Worth of Assets into Revolutionary Blockchain Digital Vault

One of the world’s premier multinational investment banks,  HSBC Bank, is launching a blockchain-based approach and ditch traditional paper records... %

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HSBC Moves $20B Worth of Assets into Revolutionary Blockchain Digital Vault

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