China’s Top Bank Emits Blockchain Securities For $1.3 Bln

Chineese The Bank of Communications has emitted $1.3 bln worth of residential mortgage-backed securities (RMBSs) on its own open ledger network Jucai Chain

Thu, 27/09/2018 - 11:06

China’s Top Bank Emits Blockchain Securities For $1.3 Bln

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The Bank of Communications, one of the largest banks in China, has emitted $1.3 bln worth of residential mortgage-backed securities (RMBSs) on its own open ledger network Jucai Chain, reports China Securities Times.

Apart from the aforementioned bank, another participant of the issuing was China International Capital Corporation.

Now, that the securities are uploaded on the Blockchain, the participants will be able to view the latest data and conduct P2P transactions with the mortgage loans.

Other big banks in the Celestial have also initiated the launch of Blockchain-powered securities recently.

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Yuri Molchan

Yuri is interested in technology and technical innovations. He has been writing about DLT and crypto since 2017. Believes that blockchain and cryptocurrencies have a potential to transform the world in the future in many of its aspects. He has written for multiple crypto media outlets. His articles have been quoted by such crypto influencers as Tyler Winklevoss, John McAfee, CZ Binance, Max Keiser, etc.