China Construction Bank launches blockchain re-factoring business

China Construction Bank announced that its blockchain-based re-factoring business platform has officially launched. According to CCB, in order to improve operational efficiency and reduce risks, the re-factoring business has customized a blockchain platform for it from the beginning of the design, and established an ecosystem of multi-participation under the re-factoring business. Re-factoring business is CCB's target is commercial factoring companies, and through cooperation with commercial factoring companies, it provides financing for small and micro enterprises. China Construction Bank assigns qualified receivables from seller companies held by commercial factoring companies to provide one or more of the following financial services, including receivables financing, credit risk guarantees, receivables management, receivables Collection of collections, the service objects are factoring companies in the industry group, supply chain supporting factoring agents, etc.