HSBC Customers Can Now Pay Mortgage Bills and Loans with Cryptocurrencies
FCF Pay, a blockchain payments system, has announced that HSBC customers can now use various cryptocurrencies to pay their mortgage bills and loans. Accepted cryptocurrencies include Bitcoin (BTC), XRP, Shiba Inu (SHIB), Ethereum (ETH), Binance Coin (BNB), and Dogecoin (DOGE). The announcement was made on Twitter by FCF Pay.
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!…
To make cryptocurrency payments for mortgages or loans, users need to follow a three-step process on FCF Pay’s website. They select a payee, add billing information, and send the chosen cryptocurrencies as payment. FCF Pay guarantees a quick processing timeframe of 48 hours for completing the payment procedure. However, there is a 2% fee on the invoiced amount for using the cryptocurrency payment gateway, along with a standard charge of $3.
It’s important to note that FCF Pay doesn’t directly connect to users’ cryptocurrency wallets during the payment process. This ensures that users’ funds remain safe while making mortgage payments.
Availability and Future Plans
Currently, the service is only available to customers in the United States. However, FCF Pay has expressed its intention to expand and support other jurisdictions in the future.
Impressive Growth of Ripple Partner Tranglo
In other cryptocurrency news, Tranglo, a Ripple partner, has experienced significant growth in its usage of the XRP-powered solution On-Demand Liquidity (ODL). From 2021 to 2023, Tranglo saw a massive increase in net ODL transaction volume, rising from $53 million to $970 million—an impressive surge of 1,700%. This growth has created new cash flow opportunities for small and medium-sized enterprises, benefiting businesses both domestically and internationally.
Overall, the integration of cryptocurrencies into mortgage payments and loans offers customers greater flexibility and convenience. It also showcases the increasing acceptance and adoption of digital assets within traditional financial systems.
Hot Take: Cryptocurrency Integration in Traditional Financial Systems
The ability for HSBC customers to pay their mortgage bills and loans with cryptocurrencies through FCF Pay marks an important milestone in the integration of digital assets into traditional financial systems. By expanding payment options beyond fiat currencies, customers can enjoy greater flexibility and potentially benefit from the value appreciation of cryptocurrencies. This move also demonstrates a growing acceptance of cryptocurrencies by major financial institutions like HSBC. As more institutions follow suit, it is likely that cryptocurrency adoption will continue to accelerate, leading to further innovation in the financial industry.
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