HSBC has taken a groundbreaking step by launching the first blockchain-based settlement service in Hong Kong. The service offers real-time payments facilitated by Ant International, enabling instant transfers between HSBC wallets in Hong Kong and US dollars. This move represents a significant advancement in financial technology for the region. 24/7 operations are now possible due to the service’s ability to facilitate transactions at any time. HSBC is aiming to expand this service across Asia and Europe by 2025, potentially paving the way for blockchain adoption within global banking sectors. This initiative could have far-reaching effects on financial landscapes globally, with implications for regulations, technology, and financial operations.