On November 29, according to a report in the Hong Kong Wen Wei Po, WeBank has partnered with Hong Kong digital bank Fusion Bank to leverage the Shenzhen-Hong Kong cross-border data verification platform and blockchain technology to transform companies' operating data in mainland China into tamper-proof credit reports. Local Hong Kong banks can then use these reports to issue unsecured loans. The first loan has reportedly been successfully disbursed to a cross-border logistics provider, demonstrating that mainland data assets can be transformed into tangible liquidity in Hong Kong through technological means.
WeBank and Fusion Bank launched blockchain-based credit reports in Hong Kong and issued their first unsecured loan.
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WeBank and Fusion Bank launched blockchain-based credit reports in Hong Kong and issued their first unsecured loan.