JD Finance Issues Securities on Blockchain
June 14, 2018
Branch of the China’s e-commerce corporation JD.com, JD Finance, has declared its plans to issue asset-backed securities on blockchain.
As Securities Times reports, to test blockchain JD Finance concluded an agreement with broker firm Huatai Securities which provides allotting securities and Xingye Bank that will function as trust bank.
Securities emission will be made on joint blockchain with each party to the agreement being an independent node while all transactions are transparent. The testing is to find out whether blockchain can satisfy needs of all the participants in the process: emitters, underwriters and buyers.
For JD Finance this was not the first time it deals with blockchain. In August last year the company issued car loan via the technology. Note that the head company JD.com has already tried blockchain when launched its own platform in March this year.