HSBC one of the largest bank in Europe with branches worldwide in key cities, does not want to Crypto’s role in digital transactions their reasons are crypto is being used by criminals by laundering their funds for their illegal activities worldwide.
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HSBC has $2.715 Trillion worth of assets but besides this, they are not enticed by what crypto has to offer that numbers of big financial intitutions now are turning to Bitcoin’s fortune.
Last week, the bank confirmed that it stopped customers of its online trading platform Invest Direct from adding MicroStrategy stock to their portfolios. COINBASE debuted on Nasdaq last week it is now including in the list, this move and acceptance of Coinbase been seen as another key step towards cryptocurrencies becoming a mainstream medium of exchange in the coming years that key indicators is that there are more people now trading this crypto thing and achieving their riches thru the miracle of this digital currencies, but HSBC stopped their services instead.
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Outside of the United States, there are banks that serve cryptocurrencies, launched their offerings to Crypto users, they are Standard Chartered and DBS. HSBC aside from money laundering reasons that they stopped their services, they did not give other reasons behind their avoidance of Crypto.
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