HSBC Launches First Blockchain Payment Service in Hong Kong

Hong Kong-based HSBC has debuted the world’s first blockchain payment service, enabling real-time corporate transactions and transfers. The service utilizes tokenized deposits to facilitate 24/7 access for payments, marking a major leap in financial modernization. This groundbreaking initiative, backed by Ant International as its first client, signifies HSBC’s commitment to digital finance innovation within the Asia-Pacific region. This development comes at a time when banking giants like Visa and Mastercard are also embracing blockchain technology, indicating a significant shift in global treasury management practices.