Ripple (XRP) Holders with HSBC Accounts Receive Exciting News

Exciting news for Ripple (XRP) holders who are HSBC users! HSBC, one of the largest banks in the United Kingdom, has recently made a major announcement regarding the usage of cryptocurrencies for specific payments. This development opens up new possibilities for eligible HSBC clients who hold XRP and other popular cryptocurrencies such as Shiba Inu (SHIB) and Dogecoin (DOGE).

In this article, we will provide detailed information on the latest offering by HSBC and how customers can take advantage of it.

HSBC Allows Payments in XRP, SHIB, DOGE, and More

The collaboration between HSBC and the blockchain payment system FCF Pay now enables eligible clients to pay their mortgage bills and loans using various cryptocurrencies. The supported digital assets include popular memecoins like Dogecoin (DOGE) and Shiba Inu (SHIB), as well as Ripple’s native token XRP.

Interestingly, the announcement had little-to-no impact on the prices of these cryptocurrencies. Currently, most digital assets have either consolidated at certain levels or experienced slight decreases in their valuation. XRP and SHIB have seen a decline of almost 2% over the past week, while DOGE has slumped by over 3% according to CoinGecko’s data.

HSBC’s Previous Endeavors in the Crypto Space

HSBC made its initial foray into the cryptocurrency industry in December 2021 when it partnered with Wells Fargo to use a blockchain platform for settling Forex transactions. A few months later, the bank also entered the Metaverse by teaming up with The Sandbox, becoming the first global bank to do so. As part of their plan, HSBC pledged to purchase virtual real estate in the form of LAND, enabling them to connect and engage with sports, esports, and gaming enthusiasts.

However, it’s worth noting that HSBC has shown some skepticism towards the crypto industry in the past. In the spring of 2021, CEO Noel Quinn stated that the bank had no intention of adopting Bitcoin as an asset class or offering it as an investment option to customers due to its volatility. He mentioned:

“Given the volatility, we are not into Bitcoin as an asset class, if our clients want to be there, then of course they are, but we are not promoting it as an asset class within our wealth management business.”