June 18 (Cointime) - HSBC, the largest bank in Europe with almost $3 trillion in assets under management, has launched its Innovation Banking unit to focus on tech and life science companies.

June 15 (Cointime) - HSBC, Standard Chartered and the Bank of China are under pressure from the Hong Kong Monetary Authority (HKMA) to accept crypto exchanges as clients. The banking sector regulator urged the banks and the lenders not to ‘create undue burden’ for those starting Hong Kong-based operations.

The Hong Kong government is pressuring HSBC and Standard Chartered to accept cryptocurrency clients. This is because more and more people are using cryptocurrencies for transactions, and traditional financial institutions need to keep up. If the two banks are able to accept cryptocurrency customers, it will help drive the digital transformation of the entire financial industry. In this rapidly changing environment, keeping abreast of major global events is critical to investment decisions. FT provides independent, trusted global reporting, expert commentary and analysis to keep you on top of emerging risks and opportunities.

HSBC, one of the largest banking institutions with $3 trillion in assets under management, has recognized the potential of Ripple's distributed ledger technology (DLT) for cross-border payments. The bank believes that DLT can streamline value transfers, reduce costs, operational risks, and settlement periods in the banking industry.

Silicon Valley Bank's UK branch is set to undergo a transformation and become HSBC Innovation Banking, marking a significant change for the once-innovative startup haven. The move comes after the bank faced a crisis, resulting in its sale to HSBC and takeover by First Citizens BancShares. The crisis at Silicon Valley Bank, which saw a rapid exodus of deposits, highlights the need for the banking sector to adapt and innovate in the face of market perception and panic, fueled by social media rumors and large uninsured deposits.

As the banking crisis in the United States continues, financial regulators are closely monitoring traditional finance companies such as HSBC and Scotiabank. The Securities and Exchange Commission (SEC) has charged HSBC Securities (HSI) and Scotia Capital with penalties over recordkeeping violations. HSI has agreed to pay $15 million to settle with the SEC, while Scotia Capital agreed to pay $7.5 million. The banks have been found to have failed to meet recordkeeping requirements for dealers registered with U.S. market regulators, with employees using unauthorized communication channels like text messages and WhatsApp. Both HSBC and Scotiabank have faced fines due to their employees using personal devices and messaging apps, with U.S. regulators launching a broad probe into the use of personal messengers like WhatsApp by financial firms in 2021.

HSBC Holdings Plc’s Chief Executive Officer Noel Quinn said the bank’s takeover of the British arm of Silicon Valley Bank will provide the basis for a new global technology business.

Silicon Valley Bank's UK arm handed out over 15 million pounds ($18 million) in bonuses days after its rescue deal this week by HSBC, Sky News reported on Saturday.

Huobi disclosed to Reuters that its customers’ funds remain unaffected by the recent banking crisis in the USA since it has previously transferred all its assets from Silvergate and Signature Bank to other monetary institutions.

Debtors jumped on the opportunity to grab a discount on their loan repayments when USDC and DAI de-pegged from the dollar.