Today, China-based Real Can (or Ruikang) Pharmaceutical
announced it has built a blockchain solution for supply chain finance with Zheshang Bank. The platform, named Jixiangtian, aims to increase efficiency, collaboration, and communication between supply chain firms and banks.
Real Can, a pharmaceutical wholesaler, boasted revenues of over 33 billion yuan ($4.7bn) last year. While Zheshang Bank is a leader in blockchain fintech solutions, having launched an accounts receivables blockchain in 2017, which last year
issued a securitized loan. Other projects from Zheshang, listed by China’s
watchdog, include a warehouse receipt platform, an OTC trading system, and an initiative for transferring personal finance products.
So it’s no surprise the bank has turned its hand to supply chain finance. It signed a cooperative agreement with Real Can in January, and today launches its jointly developed platform.
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