HSBC Unveils Hong Kong’s First Blockchain-Based Payment Service

HSBC has launched Hong Kong’s first blockchain-powered payment service using tokenized deposits, aiming to streamline real-time corporate transactions for enhanced efficiency. This innovative service utilizes Ant International’s Whale blockchain platform and allows instant transfers between HSBC wallets, both in Hong Kong dollars and US dollars, any time of day. HSBC plans to expand this system to Asia and Europe later this year.