The latest price moves in bitcoin (BTC) and crypto markets in context for March 27, 2024. First Mover is CoinDesk’s daily newsletter that contextualizes the latest actions in the crypto markets.
The bank is claiming bragging rights for being the first bank to create a blockchain-based real world asset aimed at retail investors.
HSBC on Wednesday said it is setting up a $1 billion growth fund called ASEAN Growth Fund that provides lending to companies that are scaling up via digital platforms across Southeast Asia. The London-headquartered bank is tapping into Southeast Asia's digital economy, which it said is among the world's fastest growing, expecting it to hit $600 billion in value by the end of the decade from $218 billion last year. "With a working population that is digitally native, increasing in size, and poised to consume more goods and services especially on e-commerce, ASEAN has so much potential for growth," said Amanda Murphy, HSBC's South and Southeast Asia head of commercial banking, at the launch of the fund.