Blockchain technology has recently seen increased interest as a revolutionary solution to modernize and improve payment systems in the global financial sector. The American company Ripple has emerged as one of the leaders driving this transformation by offering innovative blockchain-based technologies to facilitate and expedite banking payment processes.
A document published by cryptocurrency researcher SMQKE indicates that many major financial institutions such as HSBC, UBS, and Western Union have begun advanced experiments or commercial programs focusing on Ripple solutions since 2014.
On the other hand, these early experiments have allowed major global banks to assess the feasibility of using blockchain to reduce settlement times and lower costs in cross-border payment operations.
However, HSBC has moved beyond the limited trial phase, as the bank officially announced advanced initiatives to market solutions based on Ripple technology. These efforts have contributed to the mainstreaming of blockchain infrastructure within traditional financial services, moving from proof-of-concept tests to broader operational models.
New expansion plans for blockchain payment services
Researcher SMQKE shared additional information during a private call for HSBC investors in July 2025, where the bank revealed plans to significantly expand its blockchain-based services starting in September 2025.
The bank intends to launch cross-border wholesale payment services that operate 24/7 (always on) with the aim of improving liquidity management and enabling clients to settle wholesale transactions without being restricted by traditional banking hours.
The bank also indicated that preparations are underway to launch these services in the United States in early 2026, with an expedited timeline due to the enactment of recent federal legislation supporting pro-cryptocurrency policies.
For their part, HSBC representatives confirmed during the call that the bank expects to move forward quickly with the launch of these services in the market, noting a clear shift from exploratory and experimental activities towards full-scale commercial integration.