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..
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 search engine Baidu joins blockchain consortium Hyperledger Chinese search engine Baidu joins blockchain consortium Hyperledger,…
Chinese planning agency recommends banning bitcoin mining Government agency responsible for planning China’s macroeconomic…
Crypto platform EtherDelta came to the attention of Chinese police Chinese police allegedly initiated an investigation into the platform…
Revolut Bank will transfer ownership of cryptocurrencies to clients, but will not allow withdrawals to Fintech Bank Revolut next month….
ICBC: Most of China’s major banks have already switched to blockchain Over 70 financial institutions in China, including state-owned banks and the largest…