Bank of China Inks Deal with UnionPay For Blockchain-Powered Payment System
Cryptovest
Published Aug 20, 2018 11:39AM ET
Updated Aug 20, 2018 12:40PM ET
Bank of China Inks Deal with UnionPay For Blockchain-Powered Payment System
State-backed Bank of China (BOC) has signed a deal with financial services corporation China UnionPay (CUP) to jointly develop a blockchain-enabled payment system, according to a recent announcement .
According to BOC, the deal is in response to the growing demand for and regulatory requirements on blockchain applications in the real economy, and is designed to provide more extensive opportunities for cooperation between enterprises, particularly in cross-border digital payments.
“According to the agreement, the two parties will continue to take advantage of their respective fields, actively implement the requirements of mobile payment convenience demonstration projects, deepen all-round cooperation in the field of mobile payment, promote the healthy and rapid development of the payment industry, and provide intelligent, open, integrated and characteristic digital mobile finance f...
This article appeared first on Cryptovest
Get The News You Want
Written By: Cryptovest
Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.