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   1068

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.

Samsung to Invest $2.9M in Ledger

The fact of a round of investments was confirmed by a spokesman for Ledger, but he did not disclose details
25 April 2019   42

The developer of hardware wallets Ledger attracted 2.6 million euros ($ 2.9 million) from the South Korean conglomerate Samsung. The company's investment valuation reached $ 290 million, according to the French edition of Capital.

Thus, the very fact of a round of investments was confirmed by a spokesman for Ledger, but he did not disclose details. Co-founder Eric Larchevêque, who had recently transfered power to the new CEO Pascal Gauthier, also did not shed light on the details of the transaction.

Larchevêque himself will focus on the company's strategy, cooperation with regulators and legal compliance as the executive chairman.

Ledger raised $ 7 million in a round of financing for Series A in early 2017, which was headed by MAIF Avenir, a division of large French insurance company with the support of Xange, Wicklow Capital, GDTRE, Libertus Capital, Digital Currency Group, The Whittemore Collection, Kima Ventures, BHB Network and Nicolas Pinto as an individual investor.

At the beginning of 2018, a round of financing for Series B took place, within which the hardware wallets maker raised $ 75 million. The round was led by Draper Esprit, the other participants were Draper Venture Network, FirstMark Capital, Cathay Innovation and Korelya Capital.