WeBank and Fubon Bank have launched blockchain data verification credit reports in Hong Kong and issued the first unsecured loan

WeBank has partnered with Fusion Bank, a digital bank in Hong Kong, to utilize the Shenzhen-Hong Kong cross-border data verification platform, leveraging blockchain technology to transform enterprises' operational data in the mainland into tamper-proof credit reports. Local banks in Hong Kong can issue unsecured loans based on these reports. It is reported that the first loan has been successfully granted to a cross-border logistics company, representing that mainland data assets can be converted into tangible liquidity in Hong Kong through technological means.