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China Construction Bank, the world's second-largest bank by assets, is cooperating with Malaysian and Singaporean partners to test blockchain technology for use in the bond market.

Instead of the Ethereum blockchain, a proof-of-concept for the bond is now being explored with STACS, a Singaporean fintech development firm that specializes in the use of blockchain technology in capital markets

Alongside CCB Labuan and Bursa Malaysia, other partners on the proof-of-concept include domestic regulators, the Labuan Financial Services Authority and Securities Commission of Malaysia, as well as two banks, CIMB Investment Bank Berhad, and Maybank Investment Bank Berhad, also known as Maybank