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WeBank and Fubon Bank validate credit reports using Blockchain data in the Hong Kong area and distribute the first unsecured loan.
ChainCatcher news, WeBank has partnered with Hong Kong's digital bank Fusion Bank to utilize the Hong Kong-Shenzhen cross-border data verification platform, underpinned by blockchain technology, to transform businesses' operational data in the mainland into tamper-proof credit reports. Local banks in Hong Kong can issue unsecured loans based on these reports, and it is reported that the first loan has been successfully distributed to a cross-border logistics company, representing that mainland data assets can be converted into tangible liquidity in Hong Kong through technological means.