Yesterday, the Qianhai Mercantile Exchange (
QME) and Ant Financial launched a blockchain warehouse receipt alliance.
QME is a
commodity trading platform and a subsidiary of the Hong Kong stock exchange (HKEX) which also owns the
London Metal Exchange. Through a partnership with Ant Financial, the trading system can integrate warehousing and logistics using blockchain to provide transparency for the entire lifecycle of a commodity.
Warehouse receipts vouching for the underlying commodity’s existence are critical documents for commodities markets to track the physical inventory. Companies holding a warehouse receipt can use it as collateral for finance, turning a digital receipt into a digital asset.
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