According to reports by Chinese news agencies, the Chinese wing of crypto exchange Huobi is among the first ones to join the Blockchain Services Network (BSN), an industry association formed under the leadership of the State Information Center (SIC). News of the membership was first announced on the first of this month at a conference partly sponsored by SIC.
Other big names that are part of this alliance at present are China UnionPay, government-backed telecom biggies China Mobile and China Telecom, China Merchants Bank International, and Tencent-backed WeBank.
As per the reports, the aim behind setting up of BSN is to make available a platform for blockchain infrastructure facilities that will play as a link between various blockchain networks, regions, and institutions, bringing them all together, leading to seamless interaction between them. The platform, jointly created by China UnionPay and China Mobile, has been “successfully deployed.”
On December 1, there was also a report that stated that Hainan’s Financial Supervisory Authority president Yang Chen declared that the region would be adopting a sandbox model to assess fintech and blockchain technology.
Huobi is a cryptocurrency exchange with headquarter in Singapore. This China-based firm now has branches in Hong Kong, Korea, Japan, and the United States. In 2018, it became a publicly listed company in Hong Kong.