Chinese e-commerce giant JD.com has released plans to issue asset-backed securities on the blockchain, local media reported June 13.According to China's Securities Regulatory Commission via its media outlet Securities Times, subsidiary JD Finance will issue the ABS in conjunction with Huatai Securities and Xingye Bank.Together, the partners will asses blockchain's potential to shore up asset security, according to JD Finance head Hao Yanshan.
"...The alliance chain must meet the actual needs of all participants in the asset securitization business in order to fully reflect the application value of blockchain technology," he explained.
The move is not the first for JD in the blockchain arena, the company having announced in March it would launch a Blockchain-as-a-Service platform and the same month eyeing the technology to track meat supply.
Paraphrasing a Huatai executive, the CSRC meanwhile appeared buoyant about the next implementation.
"The currently established asset securitization business management system is conducive to the prevention of risks of various ABS products and thus protects the interests of investors," it concluded.
E-Commerce Giant JD.com to Issue Blockchain Asset-Backed Securities
Published on Jun 13, 2018
by Cointele | Published on Coinage
Crypto Lender BlockFi Cuts Interest Rates Paid to Largest Account Holders
BlockFi has changed the terms of its interest-bearing cryptocurrency deposit account just weeks after launching it.
Bitcoin Futures Volume Is More Significant Than You Think, Bitwise Says
The bitcoin futures market is far larger, relative to the spot market, than previously thought, says Bitwise Asset Management.
Duke University Partners for Blockchain Lab, Education Program
Duke University is teaming up with blockchain startup Citizens Reserve on an educational initiative aimed to develop students' interest in blockchain technology.
Bitwise Tells US SEC That 95% of Volume on Unregulated Crypto Exchanges is Suspect
95 percent of volume on unregulated exchanges appears to be fake or non-economic in nature, an analysis from cryptocurrency index fund provider Bitwise Asset Management has argued in a report dated March 20.