Dianrong (点融), a leading Chinese online P2P lending service provider today announced cooperation with R3, a global platform specializing in distributed data technology. The Chinese fintech company’s supply chain finance solutions will land on Corda, R3’s open-source distributed ledger.

Dianrong hopes the cooperation will enable the company’s end-to-end service through a comprehensive supply chain and increase efficiency by ensuring transparency. The company’s initiative is to allow micro and small businesses to access credit and financial services.

According to Soul Htite, co-founder of Dianrong and former officer at U.S. online lending platform Lending Club, “And through a CorDapp (Corda Distributed Applications), we can make this solution (supply chain finance) even more accessible and easier to use for supply chains in China and around the world.”

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Runhua Zhao

Runhua Zhao is a technology reporter based in Beijing. Connect with her via email: runhuazhao@technode.com