Bank of Communications Joins Chinese Central Bank’s Blockchain-driven Trade Finance Platform


Bank of Communications has become the latest major lender to join the Chinese central bank’s blockchain-based trade finance platform.

According to the People’s Bank of China’s (PBOC) official news outlet the platform is a form of national financial infrastructure that provides services to the Chinese trade finance sector.

The neutrality, specialisation and authority of the platform serves to provide an effective guarantee for the veracity of underlying transactions.