HSBC Introduces Blockchain Settlement System in Hong Kong
- HSBC launched Hong Kong’s first blockchain-based settlement system.
- The system uses tokenized deposits for secure and quick transactions.
- Developed in collaboration with Ant International, a subsidiary of Alibaba Group Holding.
- Allows payments in both Hong Kong and U.S. dollars.
- Pilot testing was conducted on the Whale blockchain platform.
- Expansion planned across Asia and Europe by late 2025.
HSBC has introduced a blockchain-based settlement system in Hong Kong, developed with Ant International, enabling efficient transactions using tokenized deposits. The service is set to expand to Asia and Europe by late 2025 after successful pilot testing on the Whale platform.
Source (2.6)https://hodl.press/hsbc-launches-hong-kongs-first-blockchain-payment-system/?rand=24434
