Wells+Fargo+%26amp%3B+Company (NYSE: WFC) and HSBC+Bank+plc today announced that the blockchain-based solution they are using for bilateral FX settlements is expanding to include the offshore yuan (CNH). The offshore yuan marks the fifth currency to be settled between the two banks using a shared settlement ledger that currently encompasses the U.S. dollar, Canadian dollar, British pound sterling, and the euro. Since launching the shared DLT solution in December 2021, HSBC and Wells Fargo have settled over $200 billion in transactions and plan to add additional currencies over the coming months.
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