Blockchain-powered Financing Platform Launched in Guangdong

The government of Guangdong has recently launched a blockchain-powered financing platform that is supported by Alibaba’s fintech arm Ant Financial and OnceConnect, which their vision is to help small business to receive their business loans faster from commercial banks. The director of Guangdong Local Financial Regulatory Bureau, Xiajun He explained, “Borrowing money from commercial banks for small companies has been slow and expensive.”

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