Equity

Pilot

Bank AI

Read

<ul>
 <li>Ripple and Fubon Bank pioneer a transformative Home Equity Line of Credit (HELOC) pilot.</li>
 <li>Use of hypothetical e-HKD for streamlined lending, providing 24/7 property equity access.</li>
 <li>Key insights from the e-HKD pilot program and plans for future expansion.</li>
</ul>
<p>In a groundbreaking <a href="https://ripple.com/insights/exploring-home-equity-lending-and-settlement-with-cbdcs/" target="_blank" rel="noopener noreferrer nofollow">collaboration</a>, Ripple and <a href="https://www.fubonbank.com.hk/en/home.html" target="_blank" rel="noopener noreferrer nofollow">Fubon Bank</a> have embarked on a transformative Home Equity Line of Credit (HELOC) pilot project for Hong Kong citizens, exploring the fusion of digital innovation and traditional banking processes.</p>
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter">
 <div class="wp-block-embed__wrapper">
  <blockquote class="twitter-tweet" data-width="550" data-dnt="true">
   <p lang="en" dir="ltr">A new hypothetical e-HKD Pilot Programme for <a href="https://twitter.com/hashtag/HKMA?src=hash&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">#HKMA</a> demonstrates how to streamline access to excess property equity.<br><br>Learn more about exploring home equity lending and settlement with <a href="https://twitter.com/hashtag/CBDCs?src=hash&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">#CBDCs</a>: <a href="https://t.co/jYHxnY47Ax" rel="noopener noreferrer nofollow">https://t.co/jYHxnY47Ax</a> <a href="https://t.co/YlHPoImxQh" rel="noopener noreferrer nofollow">pic.twitter.com/YlHPoImxQh</a></p>— Ripple (@Ripple) <a href="https://twitter.com/Ripple/status/1719069985925140924?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">October 30, 2023</a>
  </blockquote>
  <script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
 </div>
</figure>
<p>This <a href="https://cryptonewsland.com/ripples-tokenization-transformation-navigate-the-new-frontier-of-real-estate/" target="_blank" rel="noopener noreferrer nofollow">innovative initiative</a> is part of the e-HKD Pilot Programme for the Hong Kong Monetary Authority (HKMA), with the aim of streamlining access to excess property equity for Hong Kong residents.</p>
<p>The project leverages the <a href="https://cryptonewsland.com/us-federal-reserves-cbdc-view-and-the-push-for-bitcoin-shib/" target="_blank" rel="noopener noreferrer nofollow">Ripple Central Bank Digital Currency (CBDC)</a> Platform to create a hypothetical e-HKD, providing users with a seamless pathway to unlock their property’s untapped equity.</p>
<p><a href="https://ripple.com/" target="_blank" rel="noopener noreferrer nofollow">Ripple</a> leverages cutting-edge technology, with Fubon Bank securely minting a hypothetical e-HKD, supported by a robust multisig ledger. The transformative process begins with users applying for a Home Equity Line of Credit through the bank’s application.&nbsp;</p>
<p>If accepted, a hypothetical e-HKD wallet is automatically created, and a tokenized property lien token is allocated to the user. Users have real-time control over their funds, and transparent, flexible repayment options enhance financial security.</p>
<p>The integration of a hypothetical e-HKD into the HELOC facility offers several advantages, including streamlined online loan approval, 24/7 property equity access, and real-time data on Loan-to-Value Ratios (LVR), available funds, and interest accrual.&nbsp;</p>
<p>From an operational perspective, end-to-end cryptography ensures auditable records, reduces manual processes, and enables real-time reporting. The collaboration between Fubon Bank, Ripple, and their partners has yielded key insights, such as addressing the demand for tokenized real estate equity and the potential for interoperable tokenization.&nbsp;</p>
<h4 class="wp-block-heading" id="h-read-also">Read Also</h4>
<ul class="wp-block-yoast-seo-related-links">
 <li><a href="https://cryptonewsland.com/btcs-growing-ties-with-u-s-equities-and-bonds/" rel="noopener noreferrer nofollow">BTC’s Growing Ties with U.S. Equities and Bonds – An August Overview</a></li>
 <li><a href="https://cryptonewsland.com/what-do-you-think-about-the-potential-2023-binance-crash/" rel="noopener noreferrer nofollow">What Do You Think About the Potential 2023 Binance Crash?</a></li>
 <li><a href="https://cryptonewsland.com/big-brazil-equities-broker-offers-btc-and-eth-trading-services/" rel="noopener noreferrer nofollow">Big Brazil Equities Broker Offers BTC and ETH Trading Services</a></li>
 <li><a href="https://cryptonewsland.com/the-dow-jones-stock-index-is-now-more-volatile-than-btc/" rel="noopener noreferrer nofollow">The Dow Jones Stock Index is Now More Volatile Than BTC</a></li>
 <li><a href="https://cryptonewsland.com/sbf-and-relatives-own-property-worth-121m-in-the-bahamas/" rel="noopener noreferrer nofollow">SBF And Relatives Own Property Worth $121M In The Bahamas</a></li>
</ul>
<p>The post <a rel="noopener noreferrer nofollow" href="https://cryptonewsland.com/ripple-and-fubon-bank-pioneer-home-equity-lending-with-cbdcs/">Ripple and Fubon Bank Pioneer Home Equity Lending with CBDCs</a> appeared first on <a rel="noopener noreferrer nofollow" href="https://cryptonewsland.com">Crypto News Land</a>.</p>

Ripple and Fubon Bank Pioneer Home Equity Lending with CBDCs

Crypto News Land

Other articles published on Oct 31, 2023

BRICS: Currency Issues Provoke Waves of Tension

Russian bank begins tracking customer crypto activities

SBF criminal trial moves to closing arguments

Bitget to Delist TOKEN from TokenFi Platform

Bittrex gets court approval for U.S. closure plan

Binance’s market share continues to fall. What’s happening

Join our free newsletter for daily crypto updates!