Crypto: HSBC Wakes Up from a Long and Deep Slumber!

Wed 27 Sep 2023 ▪ 4 min of reading ▪ by Mikaia A.

While major international banks and other financial institutions have been embracing blockchain technology and cryptocurrencies for several months, HSBC had been content to observe, or even ignore them. But the saying goes, ‘better late than never.’ Thus, the $3 trillion asset banking giant has decided to make up for lost time. An alliance with the blockchain payment processor FC Pay has been established. The goal is to allow HSBC customers to pay their bills with cryptocurrencies like Shiba Inu, XRP, and more.

Crowd Photo, Cryptocurrency Coins, HSBC and FCF Pay Logos

XRP, SHIB, BTC… your mortgage payments at HSBC in cryptocurrencies

About 12 months separate the statements of Noel Quinn, CEO of HSBC, regarding cryptocurrencies and this historic about-face. Hadn’t he said at the time, “As a bank, we are not entering the world of crypto, crypto trading, and crypto exchanges”?

Too volatile for his taste, crypto-assets deserve no place in the ecosystem of the Hongkong and Shanghai Banking Corporation Limited.

HSBC will now accept cryptocurrencies

The link provided by FCF Pay in this tweet takes you directly to the ‘Bill Payments’ page. The following details are highlighted:

“FCF Pay Bill Payments offers new opportunities to use your cryptocurrency. Compatible with over 20,000 stores, credit cards, banks, vendors, automobiles, utilities, and more. FCF Pay allows you to easily pay your bills in cryptocurrency.

This service is currently only available in the United States, but other regions will soon join the list.

Given the evolution of things, HSBC did not choose its partner at random. If the goal is to win over crypto enthusiasts and popularize bitcoin, XRP, Dogecoin, Shiba Inu… among its 60 million customers, it is still necessary to ally oneself with a partner worthy of the name: French Connexion Finance (FCF).

The only downside: FCF Pay is currently only available to Americans. In Europe, some cryptocurrency holders have already taken a liking to the convenience of Swiss Bitcoin Pay. Internationally, Binance Pay has no shortage of advantages in the eyes of bitcoin, XRP, Shiba Inu, and other cryptocurrency fans.

The Shiba crypto community has woken up on the right foot!

The ShibArmy is one of the first to celebrate this partnership between HSBC and FCF Pay.

The Shiba community is already excited about being recognized by HSBC

So, the SHIB you hold in your crypto wallet can now be used to settle your mortgages. As well as your loans with HSBC.

A boon for the Shiba community, who are eagerly awaiting a crypto SHIB bull run to easily pay their bills.

Furthermore, XRP, which is beginning to win over the hearts of major institutions, gains more visibility through this initiative by HSBC. Like BTC, ETH, DOGE, BNB, and other cryptocurrencies mentioned in the official announcement, Ripple’s native crypto continues to accumulate accolades after a long legal battle with the SEC.

Regarding FCF Pay’s crypto payment process, The Crypto Times has highlighted its simplicity. Selecting the recipient of the funds and entering payment-related data will suffice.

Note that FCP Pay has promised to process these crypto transactions in just two days. A 2% fee on the bill and an additional $3 will be charged.

The path taken by cryptocurrencies was long, rocky, and fraught with obstacles. And the democratization of these digital assets with banks was no easy task. However, it must be acknowledged that some banking institutions seem to have taken the lead in this direction. The lesson recently given by German banks to Western banks is proof of this.

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Mikaia A. avatar
Mikaia A.

La révolution blockchain et crypto est en marche ! Et le jour où les impacts se feront ressentir sur l’économie la plus vulnérable de ce Monde, contre toute espérance, je dirai que j’y étais pour quelque chose


The views, thoughts, and opinions expressed in this article belong solely to the author, and should not be taken as investment advice. Do your own research before taking any investment decisions.