HSBC's CEO: HSBC Will Not Be Offering Crypto Services

HSBC will not be offering crypto services, according to CEO Noel Quinn. Emphasizing that cryptocurrencies are too volatile, the HSBC chief said: "I do worry about the sustainability of the valuations of crypto and I have done for a while. I’m not going to predict where it will go in the future." Quinn proceeded to explain why HSBC is more negative on crypto than other banks. He stated: "As a product, I questioned its suitability for many of the consumers in the marketplace today. So that’s why HSBC is more negative on crypto than other banks."