China’s Bank Of Communications Issues $1.3B Securities Via Blockchain

Bank of Communications (BoCom), a state-owned commercial bank in China, has issued RMB9.3 billion (US$1.3 billion) of residential mortgage-backed securities (RMBS) through its proprietary blockchain network, Jucai Chain. The latest issuance saw China International Capital Corporation as the lead underwriter and book runner for the offering. Other co-underwriters included the Industrial and Commercial Bank of China and China Merchants Bank, according to a statement by Bank of Communication International Trust Co. on September 27. This is reportedly the first launch of …

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