With the economic and political battles between the U.S. and China heating to a boil, one of China’s top banks is urging financial institutions (FIs) to cut their use of the SWIFT financial messaging network for cross-border transactions. The bank’s messaging applies to Hong Kong...
Bank of China announced that it has issued 20 billion yuan ($2.8 billion) in blockchain-based bonds for small- and micro-sized businesses using its own blockchain platforms. The two-year bond will come to the market with 3.25 percent coupon rate. “We have used our own blockchain-based...
Hong Kong’s financial services market is gearing up for a battle between FinTechs and traditional institutions as the government prepares to issue its first online-only banking licenses. Reports in Reuters on Thursday (Aug. 30) said that FinTechs, telecommunications companies and other banks are expected to...
To look into blockchain payment applications, Bank of China (BOC) is teaming up with China UnionPay. The tie-up was fueled by regulatory requirements as well as market demand, and provides opportunities for cross-border payments, Cointelegraph reported. The two companies are seeking to look into distributed ledger...
August 24, 2020
China’s banks are not immune to the recession triggered by the COVID-19 crisis. Analysts and official data indicate that some of the country’s largest banks will soon show the first drop in first-half profits since the Great Recession. Reuters reported that China’s banks have been hard-hit as loans have gone sour and the country’s financial […]
July 29, 2020
With the economic and political battles between the U.S. and China heating to a boil, one of China’s top banks is urging financial institutions (FIs) to cut their use of...
December 09, 2019
Bank of China announced that it has issued 20 billion yuan ($2.8 billion) in blockchain-based bonds for small- and micro-sized businesses using its own blockchain platforms. The two-year bond will...
August 17, 2018
To look into blockchain payment applications, Bank of China (BOC) is teaming up with China UnionPay. The tie-up was fueled by regulatory requirements as well as market demand, and provides...
