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Revolut valued at $115 billion, ranks among Europe's most valuable startups
According to Reuters, Revolut has become Europe's most valuable startup, with a current private market valuation of $115 billion, surpassing UK-based Barclays and France's Société Générale. In 2025, it recorded a pre-tax profit of £1.7 billion (around $2.2 billion), reflecting rapid year-on-year growth. The company currently serves 80 million customers and is actively expanding into markets such as Mexico and Australia while continuously securing new licenses. However, Revolut continues to face several challenges: revenue per customer remains well below that of traditional banks, and its lending portfolio is comparatively small (with a loan-to-deposit ratio of just 6%, far below HSBC's 55%); it faces stiff competition in the United States; moreover, it was previously penalized by Lithuanian authorities for anti-money laundering violations and recently suffered a customer data breach. Analysts emphasize that boosting primary account usage and scaling its lending business will be the central focus for Revolut's next phase.
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Revolut
法国兴业银行
HSBC Names Stablecoin "HSBC RedCoin", Targeting P2P and P2M Payments in Phase 1
As reported by Hong Kong 01, HSBC has officially named its upcoming stablecoin "HSBC RedCoin" and plans to adopt a phased rollout approach. The first phase will focus on peer-to-peer (P2P) and peer-to-merchant (P2M) payments, before expanding into commercial finance and enterprise-level applications. HSBC also published a survey covering over 1,000 Hong Kong customers, revealing that 74% of respondents had shown interest in at least one stablecoin use case. Digital asset trading and tokenized investments garnered the highest attention at 57%, while P2P payments, cross-border payments, and merchant payments accounted for 53%, 52%, and 52%, respectively. Additionally, 60% of respondents were able to correctly identify stablecoins as digital assets backed by fiat currencies.
HSBC names its stablecoin RedCoin, initially focusing on P2P and P2M payments
HSBC has named its Hong Kong stablecoin HSBC RedCoin. In the first phase, it will focus on person-to-person (P2P) and person-to-merchant (P2M) payments, with plans to later expand to commercial banking and corporate levels. Maggie Ng, Chief Executive Officer of HSBC Hong Kong and General Manager of Retail Banking and Wealth Management, stated that launching a stablecoin is a starting point for supporting Hong Kong's financial innovation. (HK01 NFT)
AINFT
HANetf Partners with HSBC to Launch GBP and EUR Hedged Bitcoin ETCs
Odaily News: HANetf has partnered with HSBC to launch GBP- and EUR-hedged Bitcoin exchange-traded commodities (ETCs), described as among the world's first such products to provide Bitcoin exposure while mitigating the impact of USD exchange rate fluctuations.The GBP-hedged product GBTC is already trading on the London Stock Exchange, while the EUR-hedged product EBTC is trading on Xetra and Euronext Paris, with HSBC providing currency hedging services. The products target long-term Bitcoin investors concerned about a weakening US dollar, eliminating the need for investors to manage custody themselves. (CoinDesk)
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CoinDesk
Ethereum Classic
HSBC announced the name of its Hong Kong dollar stablecoin as "HSBC RedCoin," aiming to launch it later this year.
HSBC has officially announced that the name of its proposed Hong Kong dollar stablecoin is "HSBC RedCoin". The bank plans to formally launch this HKD-denominated stablecoin in Hong Kong later this year, subject to relevant regulatory approvals. Upon initial launch, the stablecoin will only be available through PayMe and the HSBC HK Mobile App.
HANetf Launches the World's First Euro-Hedged Bitcoin ETC, with Currency Hedging Provided by HSBC
Odaily News — European ETF and ETC platform HANetf has launched the Arrow Bitcoin EUR Hedged ETC (EBTC), which HANetf says is the world's first bitcoin ETC to offer euro currency hedging. The product is designed to give euro-denominated investors exposure to bitcoin price movements while reducing the impact of EUR/USD exchange rate fluctuations on investment returns, with the related currency hedging provided by HSBC. (WSJ)
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Chainlink Launches Connectivity Framework, 17 Banks Prepare for SWIFT Ledger Pilot
Odaily News: Chainlink announced on September 28 the launch of a connectivity framework that allows banks to connect to the SWIFT blockchain ledger through the Chainlink platform while retaining transaction signing keys. The framework coordinates institutional systems' interactions with the ledger via the Chainlink runtime environment, and banks adopting the self-signing model do not need to hand over authorization keys to Chainlink.The SWIFT ledger supports 24/7 tokenized deposit payments, with final settlement still completed through existing mechanisms such as real-time gross settlement. Seventeen banks from six continents, including ANZ, HSBC, Citi, Standard Chartered, and UBS, are preparing to conduct tokenized deposit pilots on the SWIFT ledger.
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World First: Seven UK Banks Complete Cross-Bank Tokenized GBP Deposit Transactions
Barclays, HSBC UK, Lloyds, Monzo, Nationwide, NatWest, and Santander, through the UK tokenized deposit initiative, have completed the world's first cross-bank tokenized GBP deposit customer transactions.Among them, Lloyds, NatWest, and Barclays completed two mortgage transfers, with funds automatically released upon completion after being locked; three banks, including HSBC, completed peer-to-peer payments simulating online shopping. The platform was built by Quant, with EY responsible for project management and Linklaters drafting the rules. The project plans to establish a company and formulate a rulebook, and aims to issue 3 digital bonds tradeable with tokenized deposits in Q1 2027.
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UK Banks Complete World’s First Tokenized Deposit Interbank Transactions
According to Reuters, Lloyds Bank, NatWest, and Barclays have completed two remortgage transactions, while three other banks including HSBC tested peer-to-peer payments, marking the official launch of the world's first interbank transactions using tokenized deposits.
World
Binance Auto-Invest Expands to Over 200 New Stocks and ETFs
Odaily News: According to an official announcement, Binance Auto-Invest will support the following stocks and ETFs starting September 17, 2026 at 10:00 (UTC): ABNB, ACN, ADI, ADP, AEM, AEP, ALL, AMGN, AMT, AMX, ANET, AON, APD, APH, APO, APP, ASX, AXP, AZN, B, BA, BAM, BBVA, BCS, BE, BHP, BKNG, BMO, BMY, BN, BNS, BNY, BP, BTI, BUD, CAT, CB, CDNS, CEG, CI, CL, CM, CMCSA, CME, CMI, CNI, CNQ, COF, COP, CP, CRWD, CSCO, CSX, CTAS, CVS, DASH, DB, DDOG, DE, DELL, DLR, DUK, E, ECL, ELV, EMR, ENB, EOG, EQIX, EQNR, ETN, FCX, FDX, FTNT, GD, GE, GEV, GILD, GLW, GM, GOOG, GSK, HCA, HDB, HLT, HON, HPE, HSBC, HWM, IBM, IBN, ICE, IMO, ING, ITUB, ITW, JCI, KKR, KMI, LIN, LITE, LMT, LOW, LYG, MAR, MCK, MCO, MDLZ, MDT, MELI, MFC, MFG, MMM, MNST, MO, MPC, MRSH, MRVL, MSI, MUFG, NEE, NEM, NET, NGG, NOC, NSC, NTES, NU, NVO, NVS, NWG, ORLY, PBR, PBR.A, PCAR, PDD, PGR, PH, PLD, PM, PNC, PSX, PWR, RACE, RCL, REGN, RIO, ROST, RSG, RTX, RY, SAN, SAP, SCCO, SE, SHEL, SHOP, SHW, SKHY, SLB, SMFG, SNDK, SNPS, SNY, SO, SONY, SPCX, SPG, SPGI, SPOT, STX, SU, SYK, T, TD, TGT, TJX, TM, TMO, TMUS, TRP, TRV, TT, TTE, UBER, UBS, UL, UNP, UPS, USB, VLO, VRT, VRTX, VZ, WBD, WDC, WELL, WM, WMB, WPM.
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BitWell
19 of 22 Wall Street institutions expect the Fed to raise rates in September, with most anticipating a 50 basis point hike
Odaily reports: 19 of 22 major Wall Street institutions expect the Federal Reserve to raise interest rates in September, with most anticipating a 50 basis point hike.Specifically, Goldman Sachs expects a 25 basis point hike; Bank of America, Deutsche Bank, and RBC expect a 75 basis point hike; JPMorgan Chase, Morgan Stanley, Barclays, Citi, HSBC, UBS, and most other institutions expect a 50 basis point hike. Additionally, Jefferies expects the next rate adjustment to be a 25 basis point cut in December, while Oxford Economics expects a rate cut only in 2027. (Cointelegraph)
Cointelegraph
Rubic
Street
摩根大通
More than 12 banks, including Goldman Sachs and JPMorgan, expect the Fed to raise rates by 25 basis points in September
Odaily reports: More than 12 banks, including Goldman Sachs, JPMorgan, Bank of America, and Morgan Stanley, expect the Federal Reserve to raise interest rates by 25 basis points on September 16. The CME FedWatch tool shows that market pricing puts the probability of a September rate hike at 87.3%, up from 61.9% at the end of August.The U.S. core consumer price index rose 0.3% month-over-month in August, versus market expectations of 0.2%. The current federal funds rate target range is 3.50% to 3.75%. HSBC expects the Fed to raise rates in both September and December, while UBS expects a cumulative 50 basis points of tightening by year-end.The Federal Open Market Committee will begin a two-day meeting on September 15 and will announce its rate decision on September 16. Bitcoin previously briefly broke above $79,000 before falling back to around $77,000. (Bitcoin.com News)
August
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摩根大通
Weekend cross-border USD payment completed in minutes: DBS and Citi execute tokenized deposit transaction via Swift digital ledger
Odaily News – DBS and Citi's New York office completed a USD cross-border payment between Singapore and the United States on September 5, using tokenized deposits on the Swift digital ledger. The transaction was executed over the weekend and took only minutes, while traditional cross-border payments typically take up to two business days.This marks the second time the Swift digital ledger has been confirmed for real-time application, following HSBC and Standard Chartered's completion of the first real-time tokenized deposit cross-border transaction in August. Swift announced on July 9 that the ledger was available for initial use, with 17 banks preparing to participate in the pilot program. DBS is the only Asia-headquartered bank among the 12 core design group members. DBS Group Chief Operating Officer Rachel Chew stated that the Swift digital ledger is bridging traditional banking infrastructure with emerging digital networks. Mridula Iyer, Citi's Head of Services for South Asia, noted that the weekend real-time transaction demonstrates that 24/7 cross-border payments have become a reality. DBS launched DBS Token Services in 2024, offering 24/7 programmable instant value transfer services.
August
Taurus Integrates with Swift’s Blockchain Ledger, First Clients Going Live Within Days
Odaily News Digital asset infrastructure provider Taurus has connected its tokenization and custody platform to Swift's blockchain-based ledger, allowing clients to use bank-issued tokenized deposits for payments through their existing digital asset infrastructure.Taurus stated that the first client integrations are expected to go live within days, with the first distributed ledger technology transaction facilitated by its platform expected to be completed within weeks.International payment network Swift announced in July that its ledger was ready for initial use, with 17 banks from six continents piloting real-time transactions using tokenized deposits. Standard Chartered and HSBC have completed the first real-time cross-border transaction on the ledger. (Cointelegraph)
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Cointelegraph
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Taurus
Swiss digital asset infrastructure provider Taurus integrates with Swift's blockchain ledger
Odaily News: Digital asset infrastructure service provider Taurus SA announced that its tokenization and custody platform has completed integration with Swift's blockchain-based distributed ledger, the international bank communication network.Taurus stated that following this integration, clients can connect their existing digital asset infrastructure to Swift's blockchain ledger and conduct payment transactions using bank-issued tokenized deposits. The first batch of client integrations is expected to go live within days, with the first transactions based on this distributed ledger technology (DLT) expected to be completed within weeks.In July 2026, Swift announced that its blockchain ledger was ready for initial use, with 17 banks from six continents planning to pilot cross-border payments based on tokenized deposits through the system. Subsequently, Standard Chartered and HSBC completed the first real-time cross-border transactions supported by the ledger, establishing connectivity between their respective tokenized deposit systems.Swift stated that the blockchain ledger will serve as a coordination layer for cross-border payments, supporting round-the-clock transfers of tokenized deposits held on participating banks' balance sheets, while continuing to complete clearing through existing financial infrastructures such as real-time gross settlement (RTGS) systems during the final settlement phase. (Cointelegraph)
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Cointelegraph
Taurus
Hong Kong Court Sentences Telecom Fraud "Middleman" to 56 Months in Prison: Police Track Cryptocurrency to Trace Ransom Flow
According to a report by Caixin, the Hong Kong High Court of Appeal rejected the sentence reduction application of Ma Zhihao, the ringleader of an online fraud and human trafficking syndicate, yesterday, upholding the original 56-month imprisonment term. During the investigation, Hong Kong police traced the criminal funds through blockchain and cryptocurrency transaction records, pinpointing key transactions involving his receipt of ransoms and illicit proceeds. It is reported that the family members of a victim paid approximately 9,527 Tether (USDT) to a cryptocurrency wallet designated by the perpetrators. Blockchain tracking records conclusively proved that 8,127 USDT flowed into an exchange account registered under Ma Zhihao’s real name and Hong Kong identity card. The assets were subsequently converted into approximately HK$63,000 and transferred to his personal HSBC bank account, serving as crucial evidence of his participation in the crimes and his financial gains. The Court of Appeal noted that, were it not constrained by the seven-year maximum sentencing limit prescribed for the District Court, the penalties faced by the defendant would have been significantly more severe.
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HSBC: Starlink Users Surpass 12 Million as Space Race Boosts Earth-Based Industries in Three Ways
According to Trend Research, an HSBC report released on August 18 spanning 12 industries points out that SpaceX's Starlink has crossed the inflection point for scale. As of June 30, it operates 10,200 satellites in orbit and serves 12 million broadband subscribers across 167 markets. Additionally, 7.4 million monthly active devices connect directly to mobile phones via satellite (Direct to Cell), covering 30 countries. Maersk has installed Starlink on more than 330 container ships, while United Airlines plans to upgrade 15 Boeing 737-800 aircraft per month. Starship aims to reduce launch costs to $100–$300 per kilogram, representing a decline of over 95% compared to historical averages. HSBC assesses that the space race is now benefiting terrestrial industries across three dimensions: From a communications standpoint, Starlink and ground-based telecom operators are predominantly complementary, filling coverage gaps in oceanic, desert, and post-disaster environments. Regarding compute infrastructure, orbital data centers currently cost three times as much as ground-based equivalents, acting mainly as strategic reserves; however, if TeraFab’s vertically integrated wafer fabs succeed, they could revolutionize the division of labor in the semiconductor industry. At the energy level, AI data centers have pushed the annual growth rate of U.S. power demand to 4%-5%, making renewable energy and the electrical grid the largest beneficiaries. Among the 12 industries covered, power, semiconductors, and robotics are being directly transformed.
August
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June
Standard Chartered and HSBC Complete First Real-Time Cross-Border Transaction via SWIFT Blockchain Ledger
Odaily News: Standard Chartered and HSBC have completed the first real-time cross-border transaction executed via the Society for Worldwide Interbank Financial Telecommunication (SWIFT) blockchain ledger. The transaction exchanged payment messages through the SWIFT ledger, with the corresponding debts recorded respectively on HSBC's Tokenised Deposit Service and Standard Chartered's tokenised deposit infrastructure.The SWIFT ledger matches and nets off the debts of both parties before final settlement, with the ultimate settlement still completed through existing payment systems. The ledger is designed to connect tokenised deposits issued across different banking infrastructures, supporting round-the-clock cross-border payments while retaining existing settlement, compliance, and risk control mechanisms. (Cointelegraph)
Cointelegraph
Ledger
Standard Chartered and HSBC Complete First Cross-Border Transaction on Swift Blockchain Ledger
Standard Chartered Bank and HSBC completed the first real-time cross-border transaction on the Swift blockchain ledger, demonstrating the interoperability of the two banks' tokenized deposit systems.
Ledger
HSBC: CSP Capex Far From Peaking, Leverage Capacity Supports AI Trend Until 2028
According to TechFlow Research, HSBC's August 12 report pointed out that since July 1, the Philadelphia Semiconductor Index has fallen 16% and the S&P 500 has risen 3%, indicating the market's concern over CSP capital expenditure peaking is excessive. Consensus forecasts the capex growth rate of the five major CSPs (Alphabet, Amazon, Microsoft, Meta, Oracle) will decline from 95% in 2026 to 46% in 2027 and 11% in 2028, with free cash flow turning from $34 billion to -$104 billion. However, HSBC scenario analysis shows that if 2027 capital expenditure reaches $1.0 to $1.6 trillion, the Net Debt/Equity ratio will only rise from the current 7% to 8% to 30%, and even if 2028 reaches $1.9 to $2.5 trillion, the Net Debt/Equity ratio will only be 25% to 43%. Under HSBC's aggressive scenario, the overall CSP ROIC will be 19% in 2027 and 17% in 2028, which HSBC believes is still acceptable. The research report judges that TSMC, Intel, and ASML's June quarter capacity expansion guidance is supported by demand. HSBC's top picks are Marvell, Intel, TSMC, and ASML, with target prices of $300, $200, NT$3,400, and €2,149 respectively, all rated Buy. The five major CSPs also all maintain Buy ratings, with target prices of Alphabet $420, Amazon $310, M
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