HSBC, the UK's largest bank, has teamed up with FCF Pay, allowing eligible customers to pay their mortgages and loans with a variety of cryptocurrencies. Supported assets include the most popular memecoins Dogecoin (DOGE) and Shiba Inu (SHIB), as well as Ripple's native token XRP. Interestingly, this announcement had little impact on the price of the cryptocurrencies in question.

Recently, most digital assets have consolidated to certain levels or decreased their values ​​slightly. XRP and SHIB are down almost 2% for the past week, while DOGE is down more than 3% (according to CoinGecko data).

In December 2021, HSBC began using a blockchain platform to settle Forex transactions in collaboration with Wells Fargo. A few months later, it became the first global bank to enter the Metaverse by collaborating with The Sandbox. HSBC planned to acquire virtual real estate to connect and engage with sports, e-sports and gaming enthusiasts.

However, HSBC has been highly critical of the cryptocurrency industry in the past. In the spring of 2021, CEO Noel Quinn stated that the bank had no intention of adopting Bitcoin and would not offer it as an investment option to customers.