CCB releases BCTrade 2.0 after 50 billion transaction from former version

The China Construction Bank officially issued the second version of its blockchain trading platform. BCTrade 2.0 is a platform that digitizes trade and financial services between 54 domestic and overseas branches of CCB and 40 external organizations. CCB is one of the big four banks in the Republic of China, and the blockchain platform has reached $50 billion in aggregate transaction volume.

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One of the major Chinese banks, CCB, has updated its blockchain platform with a second version after the attainment of a $50 billion transaction volume from the former version. The BCTrade 2.0 is set to digitize trade and financial services between 54 domestic and overseas CCB branches and 40 external organizations, along with several state-owned and foreign banks.

The platform aims to render a regulatory plan for trade finance to allow real-time monitoring of various financial activities. In March 2019, CCB reported a transaction volume of $30 billion reached by the end of 2018.

Ji Zhihong, the Deputy Governor of the construction bank, has stated an active promotion of the blockchain technology. The bank is willing to accept and unfold more industry peers to join the project and ascend the use of the ledger tech.

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Ryan Asher
Ryan Asher
A post-graduate in business administration from Rutgers University, Ryan love to express his thoughts in writing. Ryan entered the crypto space by selling his car back in 2013 and investing the money into bitcoin. Apart from writing, Ryan loves to travel and believes that bitcoin is helping him fulfill his dream of traveling across the world.

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