Blockchain technology has recently gained increasing attention as a revolutionary solution for modernizing and improving payment systems in the global financial sector. American company Ripple has emerged as one of the pioneers leading this transformation, introducing innovative blockchain-based technologies to facilitate and accelerate banking payments.
A document published by cryptocurrency researcher SMQKE indicates that several major financial institutions, such as HSBC , UBS , and Western Union, have been conducting experiments or advanced trading programs focused on Ripple solutions since 2014 .
On the other hand, these early experiments have enabled major global banks to evaluate the feasibility of using blockchain to reduce settlement times and lower costs in cross-border payments.
But HSBC has moved beyond limited experimentation, officially announcing advanced initiatives to commercialize solutions based on Ripple technology. These efforts have contributed to the widespread adoption of blockchain infrastructure within traditional financial services, moving it from proof-of-concept testing to broader operational models