JD. Com to Issue Asset-Backed Securities on Blockchain

JD Finance will launch the project in partnership with the brokerage firm Huatai Securities
13 June 2018   887

JD Finance, a subsidiary of the Chinese giant of electronic commerce JD.com, plans to issue asset-backed securities (ABS) using blockchain technology, CoinDesk reports.

According to the Securities Times report, the division of the Securities Commission of China, JD Finance will launch the project in partnership with the brokerage firm Huatai Securities, which will guarantee the release of financial instruments. The project will also involve Xingye Bank, which will be entrusted with the functions of a trust company.

According to representatives of JD, blockchain technology can significantly increase the transparency of operations. The experiment will determine whether this technology is able to meet the requirements of various parties involved in securities transactions, including issuers, underwriters and buyers.

According to local media, in August 2017 the company conducted a preliminary test of the technology of the distributed registry, issuing a loan for a car purchase.

Bank of China to Issue $2.8B Blockchain Bonds

Bank used its own DLT system to issue blockchain bonds
09 December 2019   56

The fourth largest state bank, the Bank of China, has issued two-year blockchain bonds for small businesses totaling $ 2.8 billion.

To issue digital certificates, Bank of China used its own blockchain system.

It is also the first blockchain-based bond issue accounting system in the country.

Bank of China

Securities will go on sale with an interest rate of 3.25% per annum.

Thus, the bank hopes to raise funds to support small businesses in the country. As of September, as part of this initiative, the bank provided loans to small and micro enterprises for a total of $ 57.7 billion.