Tencent's Creating Online Platform for Chinese Bonds
- China’s watchdog will ban personal social accounts in trade
- QTrade was created by Tencent and a Shenzhen fintech startup
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Tencent Holdings Ltd. is joining forces with a finance startup to create a system for over-the-counter bond deals, banking on its appeal to the army of traders that already rely on its popular messaging services.
China’s biggest social media and gaming company and its partner is launching the service Friday after almost two years of fine-tuning. As envisioned, the QTrade service will help traders meet online and negotiate prices. It verifies both parties’ identities and logs their conversations and transactions for at least five years, thus complying fully with securities regulations, said Zhou Jingyu, a co-founder of the Shenzhen-registered startup.