Beijing's First Digital Renminbi Collateralized Loan Implemented

BlockBeats News, October 1st. According to Shell Finance, under the guidance of the National Financing Guarantee Fund, Beijing Re-Guarantee Company promoted the successful implementation of Guohua Guarantee and Beijing Rural Commercial Bank's digital RMB guarantee loan.

It is understood that the digital RMB financing guarantee business implemented this time is a 1 million yuan credit loan provided by Guohua Guarantee to a Beijing energy company. It is based on a digital RMB innovative production and financing model under the scenario of "Kunpeng Express Pay," a digital financial technology company under PetroChina.

After the borrowing company obtains approval for the guarantee loan from Guohua Guarantee and Beijing Rural Commercial Bank, it receives the guarantee loan through the corporate digital RMB wallet and completes the payment of employee salaries and other loan uses. Compared to traditional financing guarantee models, digital RMB guarantee loans have advantages such as fast receipt, traceability, and tamper resistance.