In recent years

blockchain technology has been widely concerned and applied in various fields. Among them

in the field of cross-border payments

HSBC

as a large international bank

has also begun to actively explore the application of blockchain technology. HSBC is currently using a variety of blockchain schemes for cross-border payments. They have adopted a combination of SWIFT (Society for International Financial Telecommunication) and blockchain technology to enable rapid confirmation and settlement of cross-border payments by embedding SWIFT messages into the blockchain. This scheme effectively reduces the time and cost of payment. Blockchain technology has broad application prospects in cross-border payments

but it also faces some challenges. In order to better promote the application of blockchain technology in cross-border payments

it is recommended to strengthen cooperation and synergy among all parties

pay attention to laws and regulations and regulatory compliance

pay attention to data security and privacy protection

and promote the further development of technical standards and interoperability. These measures will help promote the sustainable development of blockchain technology in cross-border payments.