New money tech: Forty of the world's biggest banks, including HSBC (pic) and Citi, have tested a system for trading fixed income using the technology that underpins bitcoin. — Reuters
LONDON: Forty of the world's biggest banks, including HSBC and Citi, have tested a system for trading fixed income using the technology that underpins bitcoin, fintech company R3 CEV said on March 3.
The banks are part of a consortium of 42 major lenders, brought together last year by New York-based R3 CEV to work on ways blockchain technology could be used in financial markets – the first time so many have collaborated on using such systems.
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