HSBC is targeting the Greater Bay Area, ‘a huge production hub’, for more digitisation efforts, including using blockchain in finance, the lender’s head of global trade for Asia says. Photo: Bloomberg

HSBC says blockchain could ease small firms’ financing woes, with Greater Bay Area key to success

  • Bank says it recently completed the world’s first yuan-denominated letter of credit blockchain transaction
  • Quick exchange of information could make letters of credit more attractive, open more financing to smaller firms, HSBC’s head of trade for Asia says
Topic |   Greater Bay Area

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HSBC is targeting the Greater Bay Area, ‘a huge production hub’, for more digitisation efforts, including using blockchain in finance, the lender’s head of global trade for Asia says. Photo: Bloomberg
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