Hong Kong’s Credit China FinTech joins GBBC

Hong Kong based FinTech service provider Credit China FinTech Holdings has signed on as a founding member of the new Global Blockchain Business Council (GBBC).

The GBBC was established by bitcoin mining company Bitfury and international law firm Covington at the first Blockchain forum of the World Economic Forum in Davos on Tuesday.

The council aims to act as a forum for businesses, innovators and technologists to come together and explore the opportunities Blockchain has to offer in the business world, as part of efforts to advance the technology.

Credit China FinTech plans to apply Blockchain in the custody of assets in its online lending business and supply chain finance business, and is exploring using the technology in other business areas.

The company is therefore committed to the development of the Blockchain ecosystem, and is joining the GBBC to facilitate this development, Credit China FinTech CEO Phang Yew Kiat said.

“It is our pleasure to represent Hong Kong, China, to be the founding member of the GBBC together with the world’s top business leaders,” he said.

“With the help of Credit China FinTech’s capabilities and advantages in China and Southeast Asia FinTech industry, we aim to build a better environment for the development of Blockchain technology to be applied in global commerce, communications, financial services, intellectual property, and other areas.”