Major banks like Barclays, HSBC, Standard Chartered, and Lloyds Banking Group reportedly discussed using the XRP Ledger to create a global liquidity network, according to a post by Lord Belgrave and shared by X-user Pumpius.

According to Pumpius, this information is a secret report connecting XRP to HSBC, Barclays, and the Bank of England.

Legacy Problems: Why Banks Are Looking for Change

The report, as described, focuses on three major pain points in correspondent banking: persistent liquidity locks, heavy messaging overhead, and multi-tier reconciliation delays. 

EXPOSED: SECRET REPORT CONNECTING XRP TO HSBC, BARCLAYS & BANK OF ENGLAND REVEALED.

A must read, especially if you’re new to #XRP https://t.co/SgfYb8UKFV

— Pumpius (@pumpius) November 8, 2025

Financial institutions, it says, “lock trillions of dollars in nostro-vostro accounts” simply to keep payments moving smoothly, while the messaging architecture (e.g., via SWIFT) dictates flow, not settlement. 

By contrast, landmark experiments by the Bank of England and Ripple showed that the Interledger Protocol enabled two simulated RTGS systems to settle cross-currency payments synchronously, eliminating reconciliation steps. 

Proposed Solution: Finite Finality on Modern Rails

According to Pumpius’s post, the confidential report shifts quickly from diagnosis to prescription. It endorses a distributed ledger architectural design built on near-instant finality, embedded compliance layers, and minimal intermediaries. 

At its core is the XRP Ledger — cited as “at the center of that design.” While public records confirm that the Bank of England’s 2017 FinTech Accelerator ran a proof-of-concept with Ripple Labs Inc. exploring ILP-based settlement, they do not confirm the exact banks, meeting venue, or full report described. 

Institutional Context & Recent Developments

The involvement of HSBC and Barclays is plausible: HSBC announced in 2023 its partnership with Metaco, a platform acquired by Ripple, to support its institutional digital-asset custody infrastructure. 

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UK Finance has launched a pilot program for tokenized sterling deposits, partnering with major banks such as Barclays, HSBC, and Lloyds, to test digital pound deposits until mid-2026. This initiative aims to modernize payments, reduce fraud, and improve settlement processes, aligning with the UK’s crypto regulation plans. 

These developments suggest a broader strategic alignment between major UK banks, tokenized-money experiments, and rails derived from the XRP ecosystem.

What We Know, and What Remains Private

Verified: The Bank of England has publicly documented a PoC with Ripple exploring synchronized settlement using ILP across RTGS systems. UK banks have launched pilots for tokenized deposits that enable programmable payments as part of an effort to modernize digital transactions.

What remains private: the exact confidential report described by Pumpius and Lord Belgrave, the meeting details at The Langham, and the final agreements or contractual commitments the report purportedly included.

In conclusion, the Pumpius post reignites the long-standing narrative that major banks and central banks are readying a tectonic shift in settlement infrastructure. While many pieces align with public disclosures, the specific report and linking of banks to the XRP Ledger remain unconfirmed in the public domain. 

For readers following the evolution of digital ledger adoption, the convergence of PoCs, pilots, and private briefings suggests one thing: the rails for moving value may finally be under redesign.

Disclaimer: This content is meant to inform and should not be considered financial advice. The views expressed in this article may include the author’s personal opinions and do not represent Times Tabloid’s opinion. Readers are advised to conduct thorough research before making any investment decisions. Any action taken by the reader is strictly at their own risk. Times Tabloid is not responsible for any financial losses.

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A document shared by Crypto researcher SMQKE underscores that since 2014, numerous financial institutions, including HSBC, UBS, and Western Union, have initiated trials or advanced commercialization programs focused on Ripple’s solutions.

This early experimentation has allowed major global banks to assess the feasibility of blockchain in reducing settlement times and lowering costs in cross-border payments.

HSBC —> Announced advanced commercialization efforts using Ripple’s technology.

Documented. https://t.co/Ei3AYY4iRv pic.twitter.com/R563HyVzrf

— SMQKE (@SMQKEDQG) August 2, 2025

HSBC, in particular, has been identified as one of the financial institutions that progressed beyond limited pilot testing. The documentation highlights that HSBC formally announced advanced commercialization initiatives incorporating Ripple’s technology.

These efforts have contributed to the gradual normalization of blockchain infrastructure in mainstream financial services, moving it from proof-of-concept trials to broader operational models.

Formation of the Global Payments Steering Group

The document further details that banks such as Bank of America Merrill Lynch, Santander, UniCredit, Standard Chartered, Westpac, and Royal Bank of Canada collaborated to establish the Global Payments Steering Group, known as GPSG. HSBC has been connected to this broader ecosystem through its commercialization programs.

GPSG was organized to create common rules and governance frameworks that would guide the deployment of Ripple’s blockchain technology in global payments. This governance structure has played a role in establishing shared operational standards, ensuring interoperability, and clarifying compliance practices among participating institutions.

The establishment of GPSG represents a key milestone in building collective industry commitment to blockchain infrastructure. The framework has been described as an important step toward addressing regulatory uncertainties while fostering cooperation among major international banks.

New Expansion Plans for Blockchain Payment Services

In the recent tweet thread, SMQKE shared additional disclosures from a private HSBC investor call held in July 2025. According to this communication, HSBC outlined plans to broaden its blockchain-based services significantly beginning in September 2025.

Specifically, the bank intends to introduce “always-on” wholesale cross-border payments that will function 24/7. This development is designed to improve liquidity management and enable clients to settle wholesale transactions without traditional time constraints imposed by standard banking hours.

The institution also indicated that preparations are underway for a United States rollout of wholesale blockchain payment services, projected for early 2026. This timeline has reportedly been accelerated by the enactment of recent federal legislation supporting pro-crypto policies.

HSBC representatives on the investor call stated that the bank expects to proceed at a rapid pace in bringing these services to market. The commitment to expedite deployment signals a shift from exploratory and pilot activities toward full-scale commercial integration.

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Transition from Planning to Large-Scale Deployment

The tweet emphasized that HSBC’s remarks reflect a broader industry trend, with financial institutions moving decisively from conceptual planning to implementation of operational blockchain infrastructure.

The statement that institutions are advancing toward full-scale deployment indicates that barriers such as regulatory uncertainty and technological integration challenges are being addressed with increasing urgency.

Ripple’s role as a technology provider remains central to these developments. The underlying infrastructure that supports real-time cross-border settlement has been subject to years of validation, regulatory dialogue, and incremental commercialization.

HSBC’s current initiatives and public disclosures demonstrate that blockchain’s role in wholesale payment systems is transitioning to a new phase defined by production-scale delivery.

SMQKE’s coverage of the call and supporting documentation illustrates that HSBC is positioning itself to become a leading adopter of blockchain payments within the banking sector.

Disclaimer: This content is meant to inform and should not be considered financial advice. The views expressed in this article may include the author’s personal opinions and do not represent Times Tabloid’s opinion. Readers are advised to conduct thorough research before making any investment decisions. Any action taken by the reader is strictly at their own risk. Times Tabloid is not responsible for any financial losses.

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His post was in response to a Cointelegraph update revealing that HSBC has debuted Hong Kong’s first blockchain settlement service with tokenized deposits. The researcher then features an excerpt that underscores HSBC’s participation in trials using Ripple’s infrastructure.

The document outlines the role of Ripple in advancing blockchain-based payment infrastructure and emphasizes how major financial institutions have explored its solutions since 2014.

Specifically, the text states that “dozens of financial institutions, including HSBC,” along with UBS and Western Union, “have announced trials or more advanced commercialisation efforts using Ripple’s technology.”

HSBC Using Ripple’s Technology

Documented. https://t.co/0RVG7bpSH3 pic.twitter.com/KIh7hTK0vM

— SMQKE (@SMQKEDQG) May 24, 2025

Ripple’s Position in 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 emphasizes that the shift toward blockchain infrastructure is intended to reduce the time and cost of cross-border transactions.

It cites Ripple as one of the “leading players” in this transformation, particularly through its initiatives dating back to 2014. The significance of HSBC’s mention alongside other major institutions lies in the historical validation of Ripple’s enterprise engagements.

HSBC’s inclusion among the early adopters involved in trials reflects a broader institutional interest in XRP and Ripple’s technology, one that predates many of today’s blockchain integrations.

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Global Payments Steering Group

The document also references the Global Payments Steering Group (GPSG), a body founded by leading banks to guide governance around Ripple’s technology. It notes that 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 document claims 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 in the text, its earlier engagement in trials positions it within the ecosystem of financial institutions exploring Ripple’s solutions.

Implications for HSBC’s New Blockchain Offering

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.

Disclaimer: This content is meant to inform and should not be considered financial advice. The views expressed in this article may include the author’s personal opinions and do not represent Times Tabloid’s opinion. Readers are urged to do in-depth research before making any investment decisions. Any action taken by the reader is strictly at their own risk. Times Tabloid is not responsible for any financial losses.

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As a leading banking institution with millions of customers worldwide, HSBC’s integration of crypto payments represents a significant milestone in bridging the gap between digital currencies and mainstream financial services.

HSBC customers!

We are delighted to announce that @HSBC users are eligible to pay their mortgage bills and loans with cryptocurrencies through FCF Pay.

Some of the accepted cryptocurrencies you can pay with:
Bitcoin, Ethereum, Binance Coin, Ripple, Doge, Shiba Inu + Many more!… pic.twitter.com/SEzcveJ5vq

— FCF PAY – Blockchain Payment System (@fcfpay) September 26, 2023

Read Also: Shiba Inu (SHIB) and XRP Holders Need to Take Note of This Binance Announcement

FCF Pay Enables Cryptocurrency Payments for HSBC Customers

FCF Pay, an innovative blockchain payments system, has made substantial strides toward bolstering cryptocurrency adoption with its collaboration with HSBC.

Through this exciting partnership, HSBC customers gain the ability to utilize various cryptocurrencies, including Bitcoin, Ethereum, Binance Coin, Dogecoin, XRP, and Shiba Inu, to pay their mortgage bills and loans. FCF Pay’s tweet commemorates this milestone, highlighting the expanding options available for crypto payments.

Broadening the Crypto Utility

This development follows FCF Pay’s recent introduction of crypto bill services, which enable customers to seamlessly pay utility bills, subscriptions, and more with cryptocurrencies like USDT, BTC, ETH, and Shiba Inu (SHIB).

The inclusion of mortgage payments and loans signifies the growing versatility of cryptocurrencies as a means of conducting day-to-day financial transactions. FCF Pay’s commitment to expanding utility through its secure and efficient payment system aligns with the rising trend of cryptocurrency adoption.

Cryptocurrency Adoption on the Rise

The widespread adoption of cryptocurrencies as a viable payment method continues to gain momentum. Financial institutions are recognizing the potential of this digital asset class as they introduce innovative products to cater to institutional investors’ demands.

Japan’s largest investment bank, Nomura, has recently launched a Bitcoin Adoption Fund through its subsidiary, Laser Digital Asset Management. This fund, aimed at institutional investors, marks the initial step in Nomura’s planned series of digital adoption investment products.

Read Also: Binance Japan Launches Exclusive Platform for SHIB, XRP, ADA, SOL, DOGE and 29 Other Cryptos

Collaboration Drives Fiat-Backed Stablecoins

Further emphasizing the growing acceptance of cryptocurrencies, Mitsubishi UFJ Trust and Banking Corporation, Japan’s largest banking group, has partnered with Binance Japan, the local branch of the world’s leading cryptocurrency exchange.

Their collaboration is focused on issuing fiat-pegged stablecoins, signaling the increasing integration of digital currencies within the traditional financial ecosystem.

FCF Pay’s partnership with HSBC provides a significant boost to the adoption of cryptocurrencies by enabling customers to pay mortgage bills and loans with SHIB and XRP, alongside other popular digital currencies. This move further solidifies the expanding utility of cryptocurrencies as viable payment options.

As the financial industry embraces blockchain technology, collaborations like the one between Mitsubishi UFJ and Binance Japan highlight the evolution of digital currencies in the traditional banking sector. The progressive steps taken by HSBC, Nomura, and other financial institutions depict an increasingly favorable landscape for cryptocurrency adoption on a global scale.

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