Wells Fargo and HSBC will use blockchain technology for the forex market.

Wells Fargo and HSBC recently announced a partnership to address international trading using blockchain solutions. The two companies agreed to use the contract to trade in US dollars, Canadian dollars, British pounds and euros.

Additionally, Wells Fargo and HSBC plan to expand their platform over the next few years to raise more money. Both banks hope to use blockchain technology to make foreign payment processes more transparent and secure. The new solution enables both parties to efficiently use the PvP payment network.

This year, the application of blockchain technology has reached an all-time high. As the technology has become more visible, financial companies around the world have started to use it for cross-border commerce.