JD.com to issue blockchain securities
Well known Chinese e-commerce site, JD.com has officially announced its proposal to provide asset-backed securities (ABSs) via blockchain technology. Securities Times, the media outlet for China’s Securities Regulatory Commission (CSRC), has reported that JD Finance plans to issue the ABS through a partnership with Huatai Securities and Xingye Bank.
The partnership comes a few short months after JD’s announcement that it would utilize blockchain technology to track their supply of various meat sales and launching a Blockchain-as-a-Service (BaaS) platform.
Head of JD Finance, Hao Yanshan stated,
“...The alliance chain must meet the actual needs of all participants in the asset securitization business in order to full reflect the application value of blockchain technology.
The Securities Times reports that Huatai Securities Asset Management will put forth more emphasis on the implementation of financial technology within the business field and that the current structure is conducive to preventing various risks that come through ABS products.
Executive editor： Sarah