One of China’s leading joint-stock banks has announced the launch of its own fintech research unit in the Xiong’an New Area of Hebei province.
China Everbright Bank and China Xiong’an Group Digital City Company (中国雄安集团数字城市公司) executed an agreement for the launch of the “Digital Fintech Laboratory” (数字金融科技实验室) in Xiong’an New Area on 25 December.
According to domestic media the guiding principles of the Digital Fintech Laboratory are “setting of standards, establishment of platforms, creation of products and cultivation of talent,” with a focus on research into commercial blockchain applications.
Everbright Bank and Digital City Company will jointly establish a “Digital Fintech Innovation Platform,” focusing in particular upon the “three main operations” of blockchain payments, blockchain trusteeship and blockchain finance.
The agreement will also see the parties explore commercial fintech applications that integrate the blockchain with biometrics, big data, artificial intelligence, the Internet of Things, and mobile internet.