Home Blockchain JD Finance to make use of Blockchain for issuing asset backed securities

JD Finance to make use of Blockchain for issuing asset backed securities

Earlier today, June 13th,   an announcement was made by  JD Finance, a subsidiary of China’s e-commerce giant JD.com, in which it revealed its plans of issuing asset-backed securities (ABSs) on the revolutionary blockchain technology.

As per a report from the Securities Times, a publication outlet of the China Securities Regulatory Commission, the trial has been formed by JD Finance in a partnership with Huatai Securities, a brokerage firm that would underwrite the issuance. The report also revealed that JD Finance has also roped in Xingye Bank to act as a trust.

JD Finance plans on recording all transactions in a transparent manner, through the issuance of the securities by utilizing a consortium blockchain that would see each party acting as a node.

By conducting this experiment JD Finance aims to study the potential use cases of the blockchain if it could actually fulfill demands of the various parties involved in the asset securitization process, such as underwriters, buyers and, issuers.

Its traditional, non-blockchain ABS product was introduced in the markets back in 2015, the financial company also launched its online service at that time with the view of helping various other firms to raise capital through their issuance. Originally this issuance presents itself in the form of a portfolio of loans or credit card debts that can be further traded on the secondary market.

Significantly this is not the first time JD Finance has chosen to indulge in the Blockchain world as back in August 2017 a local news source, revealed that the firm had issued an automobile loan that would make use of a blockchain platform, highlighting the firm’s very first experiment in incorporating distributed ledger technology to its financial services.

Also, back in April 2018, JD.com made an announcement stating that it would be launching a proprietary blockchain-as-a-service platform along with other tech giants including Oracle, Huawei, IBM, and Microsoft.

 

LEAVE A REPLY

Please enter your comment!
Please enter your name here

Must Read

How To Get Sims 4 free real estate cheat

The Sims 4 is a  life simulation video game the year 2014 and was formulated and developed by the Redwood Shores studio...

The top 12 best Games like RuneScape in 2020

Runescape is a role-playing video game that was published in 2001 by a company called Jagex. In this game, participants can move...

13 best Cotomovies alternatives for streaming free movies and tv shows in 2020

Cotomovies was a free movie website that contained thousands of movies, series, tv shows, and documentaries for free. One of the movies...

The Best Game Torrent Sites With Verified Torrent Links

Gaming is at its very best in 2020. Gone are those days where you would spend hours finding ways to download a...

The top best ESO mods for you in 2020 (Free)

The Elder Scrolls Online is Bethesda's initial appropriate improvement into the MMO world and fortunately, it is moddable. It is an extraordinary...

Popular

ThopTV – Download & install app Apk on Android, iPhone, iPad, iOS, MAC, PC, Firestick, FireTV

About ThopTV movies ThopTV has been around for many years, initially, a user could download the app for an Android Device directly through play store....

9 best ThopTV alternatives for free streaming and Live TV

Streaming apps like Netflix, Amazon Prime, Hulu etc have all become a household name, thus proving that the Internet is the new...

Mobdro – Download & install app Apk on Android, iPhone, iPad, iOS, MAC, PC, Firestick & FireTV 

About Mobdro Mobdro App is one of the latest introduction into the free movie streaming app market. Mobdro is rapidly dethroning some of the big...

Cyberflix TV 3.3.1 – Download Cyberflix App Apk on Android, iPhone, iPad, iOS, MAC, PC & Firestick

About CyberFlix TV CyberFlix TV is an online streaming app on which you can watch free movies and TV Shows. The app has been shut...

Kissanime|Download Kissanime App Apk on Android, iPhone, iPad, iOS, MAC, PC, Firestick, Roku

What is kissanime Kissanime is a free anime streaming website if you ask any anime lover about the best website to watch the latest anime...