🏦 HSBC says it’s settled $250 billion in trades with Distributed Ledger Tech

HSBC announced it conducted $250 billion worth of foreign exchange transactions using Distributed Ledger Technology (DLT) over the last year. Three million foreign exchanges occurred on the HSBC DLT system, with a further 150,000 on the HSBC FX Everywhere platform. The bank noted, among other things, that DLT allows for settlement without external confirmation which increases transfer efficiency.