#crypto news update :

Hong Kong's largest bank, #HSBC , has launched #bitcoin and $ETH ETF trading for its clients. This makes HSBC the first lender in Hong Kong to allow its customers access to digital asset derivatives.

The ETFs, which are traded as securities, are the CSOP Bitcoin Futures ETF, the CSOP Ethereum Futures ETF, and the Samsung Bitcoin Futures Active ETF. They are traded on the Hong Kong Stock Exchange (HKEX).

The launch of the ETFs is seen as a sign of growing institutional interest in cryptocurrencies. HSBC has said that it is committed to providing its customers with access to a wide range of investment products, including cryptocurrencies.

#bitcoinetf #BinanceTournament

$BNB $BTC

HSBC has just launched a groundbreaking gold tokenization product for retail investors in Hong Kong, in collaboration with Swiss crypto specialist Metaco. This move marks a significant step in blending traditional finance with modern blockchain technology, offering a new, secure way to invest in gold.
Key Highlights:
First of its kind in Hong Kong by a major bank.Makes investing in gold more accessible and efficient.Partnership with crypto custody expert, Metaco.
This innovation opens up fresh investment opportunities and could lead the way for more blockchain-based financial products. Stay updated on how this transforms the investment scene!
#HSBC #BlockchainCommunity #GoldTokens #HongKong #InvestingJourney

The British affiliate of #SiliconValley Bank distributed between 15 and 20 million pounds in incentives to management and personnel.

The British affiliate of Silicon Valley Bank gave out between 15 and 20 million pounds in incentives to management and workers (approximately 18.26 million to 24.35 million pounds). One million dollars (USD). It is thought the incentives were supplied to fulfill "previously negotiated payments" to "retain core staff". Prior to this, Sources who claimed that HSBC UK #Bank had paid £1 for the UK division of Silicon Valley Bank.

Despite the alleged claims that the incentives would not have been paid this week if SVB UK had not been acquired in a solvent manner, the payments were made. The shares held by the senior executives and other employees of the company were said to have lost all value as SVB UK was so close to filing for bankruptcy.

Another insider with knowledge of the matter asserted that the incentive payments were evidence of HSBC's confidence in SVB UK's talent pool and that they were intended to fulfill previously agreed-upon payments in an effort to retain key personnel. #SVB UK said earlier on March 17 that it was pleased to be joining #HSBC after 14 years of promoting and advancing the creative economy in the UK. A tweet was used to make this announcement.

The bank hopes that the bonuses will aid in attempts to retain employees and hire new ones. In a highly competitive job market, attracting and retaining top talent depends on providing alluring incentives and benefits. It is anticipated that this move by Silicon Valley Bank's UK branch will increase its appeal as an employer to financial professionals, enabling it to maintain its market leadership.

In a deal that was facilitated by the Bank of England and the Treasury, Silicon Valley Bank UK Ltd. was officially bought by HSBC. The Banking Act of 2009, which permits the safe management of bank failures without the involvement of taxpayer money, provides powers that made the deal possible.

Given that Silicon Valley Bank has played a big role in assisting start-ups and scale-ups, this deal is an important milestone for the UK's digital industry.

Silicon Valley Bank is renowned for offering clients in the IT industry on-demand banking services and financial solutions. It has been a notable advocate for start-ups and scale-ups, assisting business owners in achieving their objectives by giving them access to resources, money, and networking opportunities. Customers may carry on with their banking as usual thanks to the sale of Silicon Valley Bank UK to HSBC, which guarantees the protection of their deposits.

Chancellor Jeremy Hunt applauded the acquisition and emphasized the value of the UK's tech industry in fostering job growth and the nation's economy. With the acquisition, HSBC has expanded its global customer base to 39 million people. Using the authority afforded by the Banking Act 2009 to safeguard both Silicon Valley Bank UK customers and taxpayers, the Bank of England and the Treasury were instrumental in enabling the sale.

Global investors like HSBC have been drawn to the UK's vibrant start-up and scale-up ecosystem, encouraging the country's tech industry to grow. The strength of the industry and its capacity to draw investment are demonstrated by the sale of Silicon Valley Bank UK to HSBC. The UK's tech industry is well-positioned for ongoing growth and innovation thanks to the assistance of major international players like HSBC.

Ultimately, the sale of #SVB UK to #HSBC represents an important development for the UK's technology industry. It emphasizes the value of safeguarding client funds as well as the government's and the Bank of England's roles in facilitating private transactions that boost the economy and create jobs. The UK's tech sector is well-positioned for future growth and success because to the ongoing support of major players on the international stage like HSBC.