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【Financial Times】HSBC and Wells Fargo to settle currency trades with blockchain
HSBC and Wells Fargo have agreed to use blockchain technology to execute direct transactions. In doing so, they have effectively cut out part of the infrastructure of their currency market.
This move is the latest example of blockchain technology entering the $6.6 trillion a day foreign currency market.
Both banks will use blockchain technology to pay for transactions in dollars, British pounds, euros and Canadian dollars using HSBC's FX Everywhere platform.
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