JD.com, the Chinese online business has launched plans to issue asset-backed securities (ABSs) on the blockchain, local media reported June 13.
As indicated by China’s Securities Regulatory Commission (CSRC) through its media outlet Securities Times, subsidiary JD Finance will issue the ABS in conjunction with Huatai Securities and Xingye Bank.
Together, the associates will asses blockchain’s capability to shore up asset security, according to JD Finance head Hao Yanshan.
“…The alliance chain must meet the actual needs of all participants in the asset securitization business in order to fully reflect the application value of blockchain technology,” he clarified.
The move isn’t the first for JD in the blockchain field, the organization has reported in March that it would launch a Blockchain-as-a-Service (BaaS) platform and that month peering toward the innovation to track meat supply.
Rewording a Huatai official, the CSRC meanwhile seemed buoyant about the following usage.
The currently established asset securitization business management system is conducive to the prevention of risks of various ABS products and thus protects the interests of investors,” it concluded.