What changed
And now HSBC Orion has become the first entrant approved to provide live Digital Securities Depository services Today, the conversations are about what the technology can enable, at what scale, and how fast…What this means practically for liquidity, capital formation, settlement Speech by Nikhil Rathi, FCA chief executive at TheCityUK dinner, sponsored by Nasdaq
Why it matters
Regulatory risk around crypto markets can change volatility, liquidity, or sentiment. The concrete detail to watch is and now HSBC Orion has become the first entrant approved to provide live Digital Securities Depository services
Trading lens
Use this as watchful context from fca.org.uk. Watch whether today, the conversations are about what the technology can enable, at what scale, and how fast…What this means practically for liquidity, capital formation, settlement confirms momentum, invalidates active bias, or changes timing.