HSBC to use blockchain to track $20bn in private assets

Pedro Gonçalves
clock • 2 min read

HSBC bank is planning on tracking about $20bn in assets on a blockchain-based custody platform early next year, Reuters reports. The platform, known as Digital Vault, will give investors real-time access to records of securities bought on private markets, HSBC told Reuters, and seeks to capitalise on booming interest in such investments by yield-hungry investors. The records are currently held in paper. It can be "tricky and time-consuming" to access them in their present form. HSBC is only transferring 40% of its records onto a blockchain, according to the report. The ...

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