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Major Chinese Bank Updates Blockchain Platform After $50 B Transacted

Published 10/11/2019, 08:22 PM
Updated 10/11/2019, 08:41 PM
Major Chinese Bank Updates Blockchain Platform After $50 B Transacted

The China Construction Bank (CCB) officially released the second version of its blockchain trading platform, which reached 360 billion yuan ($50 billion) in cumulative transaction volume.

On Oct. 9, Xinhua news agency reported that CCB, one of the big four banks in the People's Republic of China, announced the release of “BCTrade 2.0,” a blockchain trade finance platform that digitizes trade and financial services between a reported 54 domestic and overseas CCB branches and 40 external organizations, including a number of state-owned and foreign banks.

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