Chinese IT giant Tencent will create …

Chinese IT giant Tencent to create virtual bank using blockchain

Chinese IT corporation Tencent is preparing to launch its own virtual bank using blockchain technology after receiving approval from the Hong Kong Securities Commission, CoinDesk writes..

The head of Tencent’s blockchain business, Yige Kai, spoke at the World Blockchain Summit in Wujen on Friday, where he announced that the company’s virtual bank received a regulatory license. Tencent Now Goes To Build A Team To Maintain Its New Banking Platform.

“The new regulatory and supervisory environment for digital asset transactions in Hong Kong confirms the importance of blockchain technology and digital assets. This is good news for the entire industry, ”said Kai..

He did not disclose more information about the virtual bank and moved on to the topic of Tencent’s active blockchain projects, including tools for managing the supply chains of the McDonald’s fast food chain..

Chinese IT giant Tencent will create ...

According to media reports, Kai leads one of Tencent’s three blockchain development teams. The other two groups are responsible for building blockchain infrastructure and cloud services.

The Hong Kong Securities Commission unveiled a new licensing system for companies in the cryptocurrency and blockchain industry this week. To date, she has issued virtual banking licenses to 12 institutions.

Chinese IT giant Tencent will create ...

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