HSBC CEO says Bitcoin not for us
The Hindu
"Given the volatility we are not into Bitcoin as an asset class, if our clients want to be there then of course they are,but we are not promoting it as an asset class within our wealth management business," CEO Quinn said.
(Subscribe to our Today's Cache newsletter for a quick snapshot of top 5 tech stories. Click to subscribe for free.) HSBC has no plans to launch a cryptocurrency trading desk or offer the digital coins as an investment to customers, because they are too volatile and lack transparency, its Chief Executive Noel Quinn told Reuters. Europe's largest bank's stance on cryptocurrencies comes asthe world's biggest and best-known, Bitcoin, has tumbled nearly 50% from the year's high, after China cracked down on mining the currency and prominent advocate Elon Musk tempered his support.
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