HSBC, the largest bank in Europe, blocks crypto payments

HSBC, the largest bank in Europe, blocks crypto payments
Some banks are not enthusiastic about the growing interest in cryptocurrencies, as evidenced by the UK bank HSBC.
London – Trafalgar Square

British investors who managed to profit from cryptocurrencies during this period are not welcome in some banks. In this case, it is HSBC, which does not support transfers from cryptocurrency exchanges.

The hostile attitude from HSBC was reported by the British daily The Times, which also stated that bank “does not process cryptocurrency payments or allow customers to bank money from digital wallets.”

As for the other leading banks in the UK, they will accept transfers from digital wallets to current accounts. However, if customers want to use their credit card to buy or sell bitcoins, this will not be possible.

HSBC was the 6th largest bank in the world in 2020, and the largest in Europe, with total assets of $2.715 trillion (as of August 2020).

Read also: India is in favor of cryptocurrencies and opens the world’s first physical crypto bank

If you like our articles we would be happy if you give us a like / follow

1,352 Views

Share Tweet Send
0 Comments
Loading...
You've successfully subscribed to CCnews24
Great! Next, complete checkout for full access to CCnews24
Welcome back! You've successfully signed in
Success! Your account is fully activated, you now have access to all content.