Wanxiang Blockchain Selected in 2020 KPMG China Fintech 50 Report
On Jan.18, 2021, KPMG released 2020 China Fintech 50 report in Beijing. Wanxiang Blockchain was included in this list for the second consecutive year.
Vincent Y. Wang, Executive President of Wanxiang Blockchain expressed the company’s gratitude to KPMG and partners for their support and recognition and shared the progress and achievements Wanxiang Blockchain has made in empowering the financial industry with blockchain.
Designed to uncover the emerging powers in Fintech, 2020 China Fintech 50 report establishes a platform for promising Fintech providers to display their strengths and promotes cooperation among Fintech enterprises, financial institutions, VC funds, government departments and research institutions to empower the financial industry with technologies.
Wanxiang Blockchain has been dedicated to promoting the upgrade and transformation of the financial industry with blockchain technologies since its establishment in 2015. Our paid-in investment in blockchain has exceeded 1 billion RMB to date, through over 150 world-class projects globally, including leading Fintech start-ups.
Moreover, Wanxiang Blockchain has made prominent contributions to solving challenges facing the financial industry with blockchain solutions for automobile logistics, charity trust account management, supply chain finance management, insurance innovation, etc.
2020 was a big year for these solutions where great achievements were yielded. In Jan. 2020, Logistics Union Chain, a blockchain solution for automobile logistics, launched cooperation with Chang’an Ford and Minsheng APLL Logistics, largely increasing the financing amount and expanding its influence.
Wanxiang Charity Trust Account Management Platform based on blockchain demonstrated its advantages in optimizing donation process at the beginning of 2020 when COVID-19 pervaded in China. One of our clients donated 5 million RMB (about 772,000 US Dollars) to provide meals for medical workers in Wuhan, the epicenter of the virus.
By the end of 2020, our Supply Chain Finance Platform, a blockchain-based platform that empowers financial institutions, core enterprises and small and medium sized suppliers, had financed almost 800 million RMB (about 124 US Dollars) for our clients. Besides, this platform has recently been integrated with TradeTrust, a digital global trade platform of Singapore Info-communications Media Development Authority, marking Wanxiang Blockchain’s marching into cross-border trade and finance.
Meanwhile, Wanxiang Blockchain keeps exploring new scenarios in the financial industry that can be upgraded by the integration of blockchain and other new digital technologies like IoT, 5G, AI, etc.
By launching the Biological Asset Financial Service Platform with Foidn Technology, Sancai Technology, aitos.io, CTWing and the Changji Branch of China Telecom in the middle of Jan. 2021, Wanxiang Blockchain became the first in China to empower animal husbandry industry with the convergence of blockchain and IoT. This platform builds a trusted database for all players in the beef rearing process. Based on the trusted data, financial institutions can have a better understanding of the financial and operational situations of the farms so as to provide financial services to the farms at lower risks. This also helps farms to get an easier access to financial and insurance support.
Selected in KPMG China Fintech Enterprise 50 not only demonstrates Wanxiang Blockchain’s advantages in technology and innovation but also represents that our efforts in promoting financial revolution with blockchain technologies have been highly recognized by our partners and the financial industry.
“We are committed to building two ecosystems, namely Distributed Cognitive Industrial Internet and Digital City, to further unleash the value of data and reconstruct production relations with blockchain in a way to digitalize the financial industry by enhancing trust among financial institutions.” said Vincent Y. Wang, Executive President of Wanxiang Blockchain.