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Wells Fargo, HSBC Add Offshore Yuan to Blockchain Foreign-Exchange System

Wells Fargo (WFC) and HSBC (HSBC) expanded their blockchain-based system for settling foreign exchange transactions to include the offshore yuan.

The addition of the Chinese currency that circulates outside of the mainland marks the first expansion of the network, which uses a shared ledger to settle matched foreign-exchange transactions.

(By Jamie Crawley)

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