Chinese Bank to Issues $1.3B in Blockchain Securities

Bank of Communications joined forces with Commercial Bank of China and China Merchants Bank to conduct this project
27 September 2018   355

The fifth-largest commercial bank of China, Bank of Communications, used blockchain for the issue of residential mortgage-backed securities (RMBS). This is reported by CoinDesk.

The lead underwriter of the securities issue was China International Capital Corporation. Also, the two largest commercial banks of the country - Commercial Bank of China and China Merchants Bank - took part in it.

According to representatives of the Bank of Communications, the information on mortgage loans placed in the blockchain will allow RMBS participants to assess investment risks through 'due diligence' and process transactions in a peer-to-peer manner.

In August, one of the largest commercial financial institutions of China, Zheshang Bank, issued securities worth $ 66 million through its proprietary blockchain platform.

Fidelity Investments to Launch BTC & ETH Platform

New platform is designed for institutional investors
16 October 2018   137

One of the world's largest asset managers, Fidelity Investments, announced the launch of a unit focused on providing institutional investors with Bitcoin and Ethereum services. The Forbes reports.

The new division received the name Fidelity Digital Assets and, possessing a staff of 100 employees, will provide a platform for trading cryptocurrencies and consulting services 24/7.

The platform already has first customers, but its launch for a wider range of investors is scheduled for the beginning of 2019.

This is a recognition that there is institutional demand for these assets as a class. Family offices, hedge funds, other sophisticated investors are starting to think seriously about this space.
 

Tom Jessop

Founding head, Fidelity Digital Assets

In particular, Fidelity Digital Assets will offer a transaction service that, using internal cross-connect and order routers, will trade through third-party liquidity providers.

One of the most popular offers by the company can also be a service for storing Bitcoin and other cryptocurrencies. It is physical storage, distributed in different geographical locations and offering the so-called "cold" storage of digital assets. This way of storing cryptocurrencies without access to the Internet and with a multi-level control system is considered to be one of the safest and most resistant to hacking today.

As the CEO of Fidelity Investments, Abigail Johnson, said, the goal of the new platform is to make digital assets like Bitcoin more accessible to investors.

Fidelity Investments is considered the fifth largest asset manager in the world, offering investment and custody services to 13,000 consulting firms and brokers. In total, the company manages assets worth $ 7.2 trillion.