Nervos and China Merchants Bank International Partner to Develop Decentralized Financial Services
We are excited to announce our partnership with China Merchants Bank International (CMBI) to jointly develop decentralized applications for financial services, some of which will serve the bank’s retail customers.
Nervos’ public, permissionless layer one protocol — Common Knowledge Base (CKB) — provides a secure and trustless foundation while its layer two solutions enable unlimited scaling via smart contracts. As CMBI explores blockchain technology to enhance its products and services, the firm plans to tap into Nervos Network and its native CKB architecture to power future decentralized finance (DeFi) applications. Some of the areas that CMBI is exploring with blockchain include the tokenization of assets, payments and identity verification.
Last year, CMBI’s fund made a strategic investment in Nervos as part of a $28 million USD round of financing, which also included participation from Sequoia China, Polychain Capital, and others. As a strategic partner, CMBI will participate in our upcoming public sale, expected to take place on October 16th via CoinList.
Co-founder Kevin Wang explains the finance sector’s growing interest in blockchain “the recent wave of high-profile blockchain projects such as Libra and JPM Coin foreshadows a shift in the financial services industry…as more financial institutions and enterprises get on board with blockchain technology, our partnership with CMBI will play an important role in modeling the future of decentralized finance and accelerating mainstream blockchain adoption.”
Incorporated in Hong Kong, CMB International (CMBI) is a wholly-owned subsidiary of China Merchants Bank (“CMB”) for providing total quality financial services to global, local institutional and corporate clients as well as individual investors.