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

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Thu, 27/09/2018 - 11:06
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China’s Top Bank Emits Blockchain Securities For $1.3 Bln
Cover image via U.Today
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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.

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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.

Disclaimer: The opinions expressed by our writers are their own and do not represent the views of U.Today. The financial and market information provided on U.Today is intended for informational purposes only. U.Today is not liable for any financial losses incurred while trading cryptocurrencies. Conduct your own research by contacting financial experts before making any investment decisions. We believe that all content is accurate as of the date of publication, but certain offers mentioned may no longer be available.

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