South Korea’s Sinhan Bank To Build Blockchain Based Stock Lending Service
Sinhan Bank, South Korea’s oldest, is building a distributed ledger technology (DLT)-powered stock lending platform. Shinhan Financial Investment, according to news reports, has entered into an agreement with financial service provider Directional to build a blockchain-based stock lending service.
Personal stock lending is a portion of a wider development of innovative financial services that are presently being offered by the firm.
By the end of May, Shinhan Bank has also unveiled a blockchain-powered lending platform to increase cost and time efficiencies in the lending procedure, facilitating the public to request for loans via internet and obtain credit without face-to-face meeting.
Cadence’s founder and CEO, Nelson Chu elaborated that the securitization market for private loans are in dire need of innovation.
Notably, Cadence, a US based blockchain focused firm offering alternative investment opportunities, unveiled an investment platform for debt to draw more openness and effectiveness to the private debt asset class in order to assist firms build their businesses.
Back in May, there were reports that Bursa Malaysia, Kuala Lumpur-based country’s stock exchange, was working on proof-of-concept for blockchain powered security borrowing and lending system.