Zheshang Bank issues $66mn of securities on blockchain platform

By Andrew Woods
Zheshang Bank has completed an issuance of securities worth $66 million through its blockchain platform Lianrong.According to a report from China Securi...

Zheshang Bank has completed an issuance of securities worth $66 million through its blockchain platform Lianrong. According to a report from China Securities Journal the bank has become one of the first institutions in China to have made such a move over a blockchain network.

See also

An investor essentially pays for the firm's pending invoice at a discount before collecting the full amount later from the party liable for the original payment.

Lianrong was designed in-house by the bank to allow registered companies to broadcast account receivable assets to potential investors and to further let them settle peer-to-peer invoice transactions as securities.

In just four years, Zheshang’s assets have risen by 130% to $243 billion at the end of 2017, making it one of China’s fastest-growing privately-owned commercial banks with more than 60% of Zheshang Bank’s fastest-growing assets from businesses in the asset management and interbank markets. 



Featured Articles

ICYMI: Space blockchains and 6G predictions for the future

A week is a long time in tech, so here are some of Technology Magazine’s most popular articles which have been starting conversations around the world

Christine Kosmowski: growth mindset and hands-on leadership

Christina Kosmowski, CEO of LogicMonitor, discusses maintaining a growth mindset and the importance of maintaining accountability as a leader

ICANN’s Coalition to help build a better Internet for Africa

Domain name corporation ICANN is leading a group of African technology organisations to help bring security and reliability to the continent’s networks

Accelerate outcomes and cut waste with IT Asset Management

Enterprise IT

Tech leaders already looking to build back from recession

Digital Transformation

Robot dining staff on call to help care in the community

Digital Transformation