HSBC steers clear of Bitcoin due to “volatility”

An HSBC sign.

HSBC has confirmed it has no interest in getting involved with Bitcoin.

The bank has no plans to offer the cryptocurrency to clients due to its volatility and lack of transparency, according to HSBC chief executive Noel Quinn.

He said: “Given the volatility we are not into bitcoin as an asset class. If our clients want to be there then of course they are, but we are not promoting it as an asset class within our wealth management business.

“I view bitcoin as...