Zheshang Bank issues China’s first blockchain ABN for receivables

On August 17, the first phase of enterprise receivables asset-backed bill of Zheshang Lianrong 2018 was issued, based on information released by the Interbank Market Clearing House, or Shanghai Clearing House.

On August 17, the first phase of enterprise receivables asset-backed bill of Zheshang Lianrong 2018 was issued, based on information released by the Interbank Market Clearing House, or Shanghai Clearing House.

This is the first batch of enterprise receivables-based securitization products using blockchain technology in the inter-bank market.

The amount of this issuance of Zheshang Lianrong reaches 457 million yuan, with the issuance period of 354 days, the debt credit rating of AAA. It has been recognized by the market investors. China Railway Trust acts as the issuing vehicle manager, while China Zheshang Bank is the lead underwriter.

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/zheshang-bank-issues-chinas-first-blockchain-abn-for-receivables/.

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