Jul 221 mins read

Bank of Communications Issues 1.3 Billion USD Securities on Blockchain Platform

Chinese commercial bank utilizes blockchain for asset securitization

Bank of Communications Issues Securities Backed by Residential Mortgage Loans on Blockchain Platform

One of China's four major commercial banks, Bank of Communications, has successfully issued a large amount of securities backed by residential mortgage loans using a blockchain network. Through its blockchain asset securitization platform, "Jucailian", Bank of Communications issued 9.3 billion yuan (approximately 1.3 billion USD) worth of securities.

Bank of Communications Logo

The project combines "asset securitization" and information data on the blockchain, allowing participants to view the latest information and conduct due diligence during the issuance process, while also enabling peer-to-peer settlement transactions to reduce operational risks, shorten issuance periods, and ensure the authenticity of underlying assets.

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Other Chinese commercial banks have also recently launched various securities backed by asset support through blockchain.

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Source: Coindesk