The blockchain trade finance solution of the People’s Bank of China (PBoC) processed over 30 billion yen ($4.36 billion) in foreign exchange transactions, local finance news outlet SINA reports on July 8.
Per the report, the platform is supported at 483 branches of 28 banks in Shenzhen and is currently operating normally. Still, due to an allegedly uneven adoption of financial technology, the business volume is still proportionately small.