HSBC CEO backs CBDCs against crypto and stablecoins By Cointelegraph
HSBC CEO backs CBDCs against crypto and stablecoins
HSBC, the largest European bank with total assets of $3 trillion, maintains a skeptical stance on cryptocurrency while promoting the development of central bank digital currencies (CBDC).
HSBC Group CEO Noel Quinn penned an article titled “New forms of digital money could spur growth,” in which he outlined the firm’s commitment to supporting the concept of a CBDC, as it provides transparent legal tender designed to avoid “many risks” associated with cryptocurrencies and stablecoins.
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Read More: HSBC CEO backs CBDCs against crypto and stablecoins By Cointelegraph