“We don’t have Bitcoin (PTC),” says CEO of Europe’s largest bank Crypto Insiders

Noel Quinn, CEO of HSBC, the British investment bank and Europe’s largest bank, said the bank had no plans at the moment. cryptocurrencies Go inside.

In an interview with Reuters on May 24, the CEO said that HSBC had no plans to open a commercial division like Crypto. Bitcoin (PTC) The bank does not offer crypto as an investment to its customers.

Exclusive HSBC CEO Bitcoin tells us no https://t.co/rWKlL2iy6y pic.twitter.com/gz2CLkfYLB

– Reuters (e Reuters) May 24, 2021

Quinn says crypto is as volatile as bitcoin, and he believes there is a lack of transparency. According to the CEO, it is difficult to find out who owns the crypto, and there are issues with converting it to a Fiat currency.

“Given its volatility, we do not want Bitcoin to be an asset class. If our customers want to be there, they certainly are, but we do not advertise it as an investment within our asset management.”

Over Fixed coins The bank manager was a bit positive, but HSBC did not want to start it:

“I see Bitcoin as an asset class rather than a pay vehicle with more difficult questions about how to evaluate it in customer balances because then you will get fixed coins, which have some backup support to resolve stored value concerns, but who is the sponsoring system? And the structure and access to the reserve. ”

Among the staple coins issued by a central bank, is called Central Bank Digital Coins (CPTCs), Quinn sees potential:

“CPTCs make international transactions in the e-wallet much easier, they eliminate friction costs, and they operate transparently and have strong properties of stored value.”

The negative attitude towards crypto is no surprise. The bank blocked its customers in April Acquisition of Micro Strategy (MSDR) shares due to Bitcoin investments. On the other hand, we have recently seen other banks increasingly embracing the crypto sector.