An apparatus in one embodiment includes a first processing device configured to communicate over a network with one or more additional processing devices including at least a second processing device. The first processing device includes a first blockchain client and a first trusted execution environment, and is configured to establish a first payment channel with a second trusted execution environment of the second processing device. The first processing device is also configured to associate at least one deposit with the first payment channel through execution of a corresponding blockchain transaction via the first blockchain client. The first processing device is further configured to utilize the deposit associated with the first payment channel to carry out multiple off-blockchain transactions between the first processing device and at least the second processing device. The first payment channel in some embodiments is part of a chain of payment channels established between trusted execution environments of respective pairs of the processing devices.