XRP News Today: HSBC Linked to Ripple Blockchain Trials Since 2014

HSBC, one of the world's largest banking and financial services organizations, has been linked to Ripple's blockchain technology, according to a document unearthed by a crypto researcher. The document, which was highlighted by SMQKE, a popular crypto researcher on X, reveals that HSBC has been involved in trials using Ripple's infrastructure since 2014. The document emphasizes that dozens of financial institutions, including HSBC, UBS, and Western Union, have explored Ripple's solutions for blockchain-based payment infrastructure.

Ripple, a US-based company providing blockchain-based banking payments technology, has been recognized as a central figure in modernizing global payment systems. The document underscores Ripple's role in advancing blockchain-based payment infrastructure and highlights the shift toward blockchain infrastructure to reduce the time and cost of cross-border transactions. HSBC's mention alongside other major institutions validates Ripple's enterprise engagements and reflects a broader institutional interest in XRP and Ripple's technology.

The document also references the Global Payments Steering Group (GPSG), a body founded by leading banks to guide governance around Ripple’s technology. Institutions such as Bank of America Merrill Lynch, Santander, UniCredit, Standard Chartered, Westpac, and the Royal Bank of Canada became the founding members of this group. The GPSG was established to develop rules and governance around Ripple technology for global payments. Although HSBC is not listed among the founding members of the GPSG, its earlier engagement in trials positions it within the ecosystem of financial institutions exploring Ripple’s solutions.

HSBC's recent launch of a blockchain settlement service using tokenized deposits represents a notable advancement in adopting distributed ledger technologies in traditional finance. While the new service may not explicitly involve Ripple or XRP, the resurfacing of documentation connecting HSBC to Ripple’s trials shows major banks’ longstanding interest in blockchain infrastructure. The document reinforces Ripple’s influence in shaping the dialogue around blockchain payments and governance. XRP and the XRP Ledger are globally recognized for their notable use cases, and HSBC’s inclusion further anchors Ripple’s relevance among traditional banking giants.