One of the largest private commercial Bank China Zheshang Bank has completed the issue of securities in the amount of 66 million in dollar terms, using their own platform on the blockchain.

According to the annual report of the organization on August 13, the Bank sent a document to the Shanghai clearing house, to obtain permission for initial placement of securities. From the application it follows that all the securities will be provided by receivables of various companies.

The issue ended last Friday. Thus, the Bank received the status of one of the first financial institutions in the country issued securities using the technology of the distributed registry. Platform called Lianrong, the Bank has developed independently. It is intended to certain companies from the list could give investors their receivables. The investor is acquiring such debt of any company in fact pays for it all debt, but with a certain discount. After some time, the company with which the investor signed a contract, he pays the full amount of the debt.

Zheshang Bank was opened in 2004 and is now joined by 11 commercial banks of open type in China, interested in the introduction of technology distributed registry in working and supporting relevant projects. However, Zheshang Bank is not the only financial institution that issues securities on the blockchain. It is also engaged in JD Finance — the daughter of a major Chinese company specializing in Internet Commerce, In June it announced plans to launch a similar project in partnership with another commercial Bank.

In addition, in early summer, the American crypto currency exchange Coinbase told about attempts to status of broker-dealers to in the future become an Issuer of securities on the blockchain. For this exchange will need to obtain the approval of the securities and exchange Commission (SEC) and the Service regulation of the financial services industry (FINRA) of the United States.