2021-06-22

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British Bank HSBC opposed investment in cryptocurrency

2 min read

The IT sector company favorably reacted to the idea of ​​calculations in Bitcoins a few years ago, but the current year is characterized by the appearance of weighing supporters of the TESLA type in this cryptocurrency. The banking community, due to its conservatism, does not always share the delight of investors about cryptocurrency, the British HSBC Bank has not exceeded.

Image source: Coindesk

European banks in some cases are ready to provide their customers to investment tools in cryptocurrency – the relevant statements recently made UBS, for example, and in the US sympathy, the new investment instrument expresses Goldman Sachs. Neighbors from a foggy albion, if you believe Reuters comments, do not share such hobbies. The largest British bank HSBC, according to its general director of Noel Quinn (Noel Quinn), from cryptocurrency prefers to stay away from only due to the high volatility of their course, but also due to the opacity of the ownership structure.

Similar reasons cause HSBC to ignore the so-called stablecoin – cryptocurrencies whose emission is supported by some material values ​​or fate currencies. In April, HSBC banned customers of his application to work in the stock market to acquire shares of Microstrategy, which worked in the cryptocurrency market. The British Bank as a whole refused to help customers who wish to acquire assets related to cryptocurrencies. Partly the skeptical attitude of the bank to cryptocurrencies is due to the difficulties with their conversion in fate money.

According to HSBC representatives, Bitcoin is more in an investment instrument than a payment agent, but at the same time consider it on the balance sheet is very difficult due to the high volatility of the course.

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