Blockchain In Bank Of China Industry Trade Finance Main Application Cases
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People’s Bank of China
The People's Bank of China is leading the construction of a blockchain platform for trade finance in the Guangdong-Hong Kong-Macao Greater Bay Area, with the participation of several banks, including Bank of China, China Construction Bank, China Merchants Bank, Ping An and Standard Chartered, to land in scenarios such as accounts receivable financing.
China Banking Association (CBA)
The CBA is leading the construction of China's trade finance interbank transaction "blockchain platform", with the participation of ICBC, Agricultural Bank of China, Bank of China, CCB, Post and Reserve Bank and many other institutions, and the landing scenarios include domestic letter of credit interbank forfaiting business.
State Administration of Foreign Exchange (SAFE)
The SAFE has taken the lead in building a cross-border financial blockchain service platform, with more than 250 participating corporate banks, and has completed nearly 40,000 financing releases, which are applied to export accounts receivable financing verification services and enterprise cross-border credit information authorization checking services.
Respond to the Pandemic and Ensure Financial Market Stability —— Press Conference Transcript
China Citic Bank
Blockchain Forfaiting Trading Platform (BCFT), with participants China CITIC Bank, Bank of China, Minsheng Bank and Everbright Bank mainly serves business scenarios such as pre-pricing, post-release quotation of assets and funding quotation.
China Construction Bank
BCTrade 2.0 blockchain trade finance platform, with participants including 54 domestic and overseas branches of CCB and more than 40 peers, has gone live with domestic letter of credit, forfaiting, international factoring and other functions.
Postal Savings Bank of China
Blockchain forfaiting trading platform (U-chain platform), realizing the whole process of letter of credit from issuance to acceptance on-chain tracking, effectively collating transactions between financial institutions and reducing business risks.
Sichuan ICBC's "China-Europe e-Single" cross-border blockchain platform unites port and transportation companies, banks, regulatory agencies, customs and other departments to create an ecosystem of cross-border trade financial services, realizing the flow and traceability of document flow, information flow and capital flow.
ICBC Technology Company Officially Opens for Business in Xiongan New Area
IFAB Blockchain Smart trade finance Network, established by the Internet Finance Alliance for Small and Medium-sized Banks.
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