WeBank and Fusion Bank launch blockchain-based data verification credit reports and issue the first unsecured loan in Hong Kong

According to ChainCatcher, WeBank has partnered with Hong Kong digital bank Fusion Bank to utilize the Shenzhen-Hong Kong cross-border data verification platform. With the support of blockchain technology, business operation data from mainland enterprises is transformed 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 already been successfully granted to a cross-border logistics company, demonstrating that mainland data assets can be converted into real liquid funds in Hong Kong through technological means.