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SoftBank-Backed Fintech Firm Joins Chinese Conglomerate To Build Blockchain Platform

Summary: OneConnect Financial Technology, which is the fintech arm of China’s largest insurance company, Ping An Insurance, has entered into a joint program with the China Merchants Port Group (CMPort) to build a logistics system based on blockchain for the Guangdong-Hong Kong-Macao Greater Bay Area. SoftBank led a Series A round in OneConnect with a valuation ...

OneConnect Financial Technology, which is the fintech arm of China’s largest insurance company, Ping An Insurance, has entered into a joint program with the China Merchants Port Group (CMPort) to build a logistics system based on blockchain for the Guangdong-Hong Kong-Macao Greater Bay Area. SoftBank led a Series A round in OneConnect with a valuation of $7.5 billion in 2018. The firm went public on the New York Stock Exchange in November last year.

Tracy Chen

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