One of the four largest Chinese banks swiftly disabled its new soft launch for a digital yuan wallet after its quiet rollout got mass attention, according to CoinDesk. Users of the China Construction Bank (CCB) began to notice the digital wallet feature, added suddenly and...
China’s banks are not immune to the recession triggered by the COVID-19 crisis. Analysts and official data indicate that some of the country’s largest banks will soon show the first drop in first-half profits since the Great Recession. Reuters reported that China’s banks have been...
China Construction Bank’s vice president has revealed that the bank has added new abilities to its trade finance blockchain platform, including cross-chain and inter-bank transactions. Since its launch last year, the platform has processed over $53.5 billion transactions between exporters, banks and non-bank financial institutions....
May 10, 2024
Porch Group, a U.S. homeowners insurance and home inspection software company, reportedly sued China Construction Bank (CCB), alleging reinsurance fraud. In its complaint, Porch alleged that the Chinese lender conspired with employees of Vesttoo, a now-bankrupt Israeli insurance firm, to issue fake reinsurance letters of credit, Reuters reported Friday (May 10). CCB did not immediately reply to PYMNTS’ request […]
August 30, 2020
One of the four largest Chinese banks swiftly disabled its new soft launch for a digital yuan wallet after its quiet rollout got mass attention, according to CoinDesk. Users of...
August 24, 2020
China’s banks are not immune to the recession triggered by the COVID-19 crisis. Analysts and official data indicate that some of the country’s largest banks will soon show the first...
October 14, 2019
China Construction Bank’s vice president has revealed that the bank has added new abilities to its trade finance blockchain platform, including cross-chain and inter-bank transactions. Since its launch last year,...
