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

News
Thu, 09/27/2018 - 11:06
Yuri Molchan
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
Cover image via U.Today

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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About the author

Yuri is a journalist interested in technology and technical innovations. He has been in crypto since 2017. Believes that blockchain and cryptocurrencies have a potential to transform the world in the future. ‘Hodls’ cryptocurrencies. Has written for several crypto media. Currently is a news writer at U.Today, can be contacted at yuri.molchan@u.today.

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