On Oct. 9, Xinhua news agency reported in CCB, one of the big a couple banks in the People’s Republic of China, announced the discharge of “BCTrade 2. 0, ” a blockchain trade finance platform that digitizes trade and financial services through a reported 54 nationwide and overseas CCB leaves and 40 external vendors, including a number of state-owned but foreign banks.

All the China Construction Bank (CCB) officially released the second type of its blockchain trading platform, and it reached 360 billion yuan ($50 billion) in cumulative transaction volume.

CCB will actively trigger blockchain platform
The platform conducts trade and so financing activities, such as company accounts receivable and trade a property mortgage, and aims to provide a regulatory system for trade finance options to enable real-time monitoring of assorted financial activities. Deputy chief of the Construction Bank Ji Zhihong said that the bank will also actively promote the blockchain platform and invite a lot industry peers to join.

In March 2019 the CCB released this 2018 score showing the best way blockchain trade finance working by the end of 2018 obtained already transacted 200 billion dollars yuan ($30 billion).

Since the launch of the trading platform, cumulative alliance volume has to date reportedly exceeded 360 billion yuan ($50 billion).

Eight Institutions to find China’s Digital Currency

Cointelegraph reported in August that according to unconfirmed sources, the People’s Bank of China is giving its first round of central bank digital currency (CBDC) to online retail giant Alibaba, Internet giant Tencent, five banking organizations and one unknown entity.

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