The Facebook-backed Libra Association said Thursday it appointed financial services veteran Ian Jenkins to the dual roles of chief financial officer and chief risk officer for the unit tasked with overseeing its planned crypto payments system, as the group continues to prep for a full launch.
HSBC’s U.S. subsidiary revealed plans to launch a new managed portfolio that invests in global companies that have a leading presence in the digital innovation space, as the bank looks to help investors take advantage of the sector's accelerated growth due to the global pandemic.
Former HSBC Chief Operating Officer Andy Maguire has joined cloud banking technology company Thought Machine as chair of the company’s board, the London-based startup said Wednesday, following the company’s $125 million Series B funding round.
The Facebook-backed Libra Association said on Thursday that it appointed former HSBC executive James Emmett as the CEO and managing director of Libra Networks, the unit tasked with developing and operating the company’s cryptocurrency payments system.
HSBC has joined Mastercard’s City Possible program to accelerate sustainable urban development, with the companies saying Thursday that they plan to work together to craft an approach to green financing for sustainable projects in “net-zero” cities worldwide.
The Singaporean Exchange said Tuesday that it completed a pilot digital bond issuance on its digital asset platform with HSBC Singapore and state-owned investor Temasek on behalf of agribusiness company Olam International, representing the first digital syndicated public corporate bond in Asia.
A federal judge in Australia allowed an Australian bank payments consortium to move forward with its case against U.S. payment settlement startup Ripple Labs over the alleged misuse of its registered trademark, according to a court order unveiled Tuesday.
HSBC’s U.S. affiliate debuted an app that will allow bank customers to open U.S. checking accounts remotely from anywhere in the world without needing to visit a bank branch in person.
First Direct, HSBC’s digital bank, will switch its debit cards from Visa to Mastercard as the world’s second-largest payment card firm continues to challenge its rival’s market share in Europe through bank partnerships.
A glitch in Bank of America’s system caused some online and mobile banking users to see an incorrect $0 balance on their accounts, stirring panic among some customers who claimed they also struggled to access their money from ATMs.
The Bank of France chose eight finance businesses to test central bank digital currencies to improve payments between banks, following months of exploration by the country into a digital alternative to paper money.
HSBC’s holding company has tapped Amazon Web Services as a strategic cloud provider in a multi-year global agreement, the businesses revealed Wednesday, marking a milestone in the “digital transformation” of Europe’s biggest bank.
Barclays is launching a digital adviser that will manage funds for customers who invest as little as GBP 5,000 ($6,280), a move the bank said Tuesday gives less-affluent clients access to services that were previously only available to the wealthy.
HSBC said Thursday that a digital version of the Chinese yuan, which it suspects will launch soon, could improve China’s payment systems and put the nation at the forefront of digital currency development.
In a bid to appeal to a younger generation by removing perceived obstacles, Hang Seng Bank has debuted SimplyFund, an in-app service that offers curated mutual fund choices to beginning investors, the Hong Kong-based bank said Tuesday.
HSBC is further expanding its Chinese footprint by creating a new fintech company and hiring a group of personal wealth advisers, a bank spokesperson told Fastinform on Monday.
Sixteen major European banks banded together to produce a payment system encompassing card payments, merchant transactions, and peer-to-peer payments, according to a joint statement released on Thursday.
National Commercial Bank, Saudi Arabia’s largest lender by assets, has offered as much as 58.5 billion riyals ($15.6 billion) to acquire rival Samba Financial Group, the latest proposed consolidation between Saudi banks seeking a capital boost amid economic slowdown.
Deutsche Bank plans to boost the efficiency of messaging between its clients and employees by integrating the popular WhatsApp chat platform into its communication channels through an expansion of its partnership with Symphony Connect Solution, the bank said Thursday.
Vanguard’s efforts to accelerate blockchain use in foreign currency forward contracts is joined by a trio of major banks, moving the Pennsylvania-based asset manager a step closer to having its own blockchain forex platform.