Ping An delivers Hong Kong's first blockchain-powered trade finance platform
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Wednesday, October 31, 2018
HONG KONG, Oct. 31, 2018 /PRNewswire/ -- Ping An Insurance (Group) Company of China, Ltd. (hereafter "Ping An" or "the Group" or "the Company")(HKEx: 2318)(SSE: 601318) delivered Hong Kong's first blockchain-based international trade finance platform, eTradeConnect, which is initiated by seven founding banks in Hong Kong and facilitated by the Hong Kong Monetary Authority ("HKMA").
Key Points:
- HONG KONG, Oct. 31, 2018 /PRNewswire/ -- Ping An Insurance (Group) Company of China, Ltd. (hereafter "Ping An" or "the Group" or "the Company")(HKEx: 2318)(SSE: 601318) delivered Hong Kong's first blockchain-based international trade finance platform, eTradeConnect, which is initiated by seven founding banks in Hong Kong and facilitated by the Hong Kong Monetary Authority ("HKMA").
- OneConnect, a fintech subsidiary of Ping An, was appointed by the founding banks through Hong Kong Trade Finance Platform Company Limited as the technological provider to help design, develop and deploy the platform.
- Representing OneConnect, Ping An Group Deputy CEO, COO and CIO, Jessica Tan said: "OneConnect is proud to have helped deliver Hong Kong's first blockchain-powered trade finance platform.
- Founding banks of the platform include The Australia and New Zealand Banking Group Limited (ANZ), Bank of China (Hong Kong) Limited, The Bank of East Asia, Limited, DBS Bank (Hong Kong) Limited, Hang Seng Bank Limited, The Hongkong and Shanghai Banking Corporation Limited and Standard Chartered Bank (Hong Kong) Limited.