WeBank and Fusion Bank Collaborate on Blockchain-Based Credit Reports for Hong Kong Loans

According to ChainCatcher, WeBank has partnered with Hong Kong's Fusion Bank to leverage a cross-border data verification platform enhanced by blockchain technology. This collaboration transforms business operation data from mainland China into immutable credit reports. Local banks in Hong Kong can use these reports to issue unsecured loans. The first loan has been successfully granted to a cross-border logistics company, demonstrating that mainland data assets can be converted into tangible financial resources in Hong Kong through technological means.