Zheshang Bank, one of the largest commercial financial institutions of China, issued securities worth $66 million through its own proprietary blockchain platform.

August 13, the Bank filed a prospectus to the Shanghai clearing house. Then the representatives of Zheshang Bank announced that the securities will be secured by receivables of various companies.

A few days later, the China Securities Journal reported that the Bank issued these assets on August 17, becoming the first Institute in the country, carries out the production of such kind of securities.

Used to issue a blockchain platform Lianrong developed by the Bank for the purpose of providing registered companies with the possibility to distribute among the investors, the assets secured receivables.

Founded in 2004 Zheshang Bank is one of 12 publicly-traded financial companies in China that started in the past year and a half, various initiatives associated with the technology of the distributed registry.

Recall the days of the Chinese Internet giant JD.com presented focused on the corporate sector BaaS platform.

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