CCB launches blockchain platform for trade finance

China Construction Bank has recently launched a blockchain platform for trade and finance called BCTrade2.0 in Beijing, and released the FTI Forfeiting Index.

China Construction Bank has recently launched a blockchain platform for trade and finance called BCTrade2.0 in Beijing, and released the FTI Forfeiting Index.

Since CCB’s blockchain trade and finance platform was launched in April 2018, the cumulative transaction volume has exceeded 360 billion yuan. It has also developed functions including domestic letters of credit, forfeiting, international factoring, refactoring and other to provide trade and financial services based on blockchain platform for customers like interbanks, non-bank institutions and trading enterprises.

Participants include 54 branches of China Construction Bank at home and abroad and more than 40 peer institutions, including large state-owned banks, national joint-stock banks, urban commercial banks, rural commercial banks, foreign banks, non-bank financial institutions and other institutions.

The debut release of the FTI Forfeiting Index aims to demonstrate market activities and developments, and will gradually become a barometer or compass of the secondary market of Forfeiting in the future.

Disclaimer: This is an article created by Michael Liang for Chinasdg.org. You can find the original article here: https://chinasdg.org/2020/06/05/ccb-launches-blockchain-platform-for-trade-finance/.

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