China’s JD.com Set to Issue Blockchain Based Securities
A local report in Guandong, China has found that e-commerce giants JD.com has plans to release asset backed securities (ABS) on the blockchain.
Local news outlet STCN has reported that JD Finance, a subsidiary of JD.com, is set to issue the ABS as a collaborative project with Huatai Securities and Xingye bank, according to China’s Securities Regulatory Commission (CSRC).
Hao Yanshan, head of the Jingdong Financial and Financial Market Department, stated that:
“The alliance chain must meet the actual needs of all participants in the asset securitisation business in order to fully reflect the application value of blockchain technology”
JD.com is no stranger to blockchain based technologies and services, with the company announcing in March that it would be looking at a Blockchain-as-a-Service (BaaS.
What do you think of this news from one of China’s biggest e-commerce websites? Let us know in the comments section below.
