China Construction Bank Launches Blockchain Refactoring Platform

The world’s second-biggest bank by operated assets, China Construction Bank (CCB) has officially launched its blockchain-based refactoring platform.

On Dec. 6 Chinese news outlet Sina Tech reported that CCB aims to bolster operations and reduce major risks in its refactoring business while providing shared data access by multiple participants.

China Construction Bank Releases Second Version Of Its Blockchain Trading Platform

The news comes after CCB officially released the second version of its blockchain trading platform in October dubbed as “BCTrade 2.0”.

china construction bank

The bank updates the second version of its blockchain trading platform while reaching 360 billion yuan ($50 billion) in cumulative transaction volume. The bank announced the release of

The blockchain trading platform will conduct various trade and finance activities while aiming to provide a regulatory system for real-time monitoring of financial activities. The deputy governor of the bank Ji Zhihong says the active promotion of the blockchain platform will be done by the bank while inviting more industry players to join in.

Meanwhile, Bank of China has issued 20 billion yuan ($2.8 billion) in blockchain-based bonds for small and micro-sized enterprises with their own blockchain platforms. BOC completed pricing and issuance of bonds for the first period of this week and the two-year bond will come to the market with a 3.25% coupon rate.

Source: Cointelegraph Image Credits: Reuters | BigStock Photo

#blockchaintrading #chinaconstructionbank #bankofchina #china #blockchain