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Forex

Citi Scraps Its Plan for a JPM Coin-Like Bank-Backed Cryptocurrency

In light of the splash JPMorgan made recently with its plan for a bank-backed cryptocurrency, it’s worth remembering another big institution first tested a token to connect global payments – back in 2015. Codenamed “Citicoin,” the project out of Citigroup’s innovation lab in Dublin was never formally announced by the bank, even as a proof …

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HSBC Exec Says Using Blockchain Slashed Forex Trading Costs by 25%

An HSBC executive has said that the bank’s blockchain-based system has helped it cut the costs of settling foreign exchange trades. Speaking to Reuters, Mark Williamson, chief operating officer of FX cash trading and risk management, who oversees the blockchain project, said that its HSBC FX Everywhere platform saved it 25 percent as compared with traditional …

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New Platform Enables Trades Across 200 Tools and Runs Educational Crypto Show

A cross-market platform called LH-Crypto says its service gives traders the opportunity to transact across a plethora of cryptocurrencies and 200 other financial instruments — including forex on fiat currencies, precious metals, shares and commodities. Its beta version also enables users to participate in margin trading — a feature that it says helps distinguish its ecosystem …

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