China Launches Blockchain Warehouse Receipt Platform for Non-Ferrous Metals
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China's Cangdeng Chain launched a blockchain warehouse receipt platform in Shanghai that records non‑ferrous metal receipts entirely on‑chain to enable verification and prevent forged documents, duplicate financing and unclear ownership. The NCWR-led system, built with CMST Development, Bank of Communications, Shanghai Data Group and the National Blockchain Technology Innovation Center, had registered over 277,000 tonnes of commodities by May 2026, demonstrating rapid enterprise blockchain adoption in commodity finance. The upgrade improves security and transparency for tokenization, crypto-backed DeFi use cases and digital asset workflows, supporting stronger adoption of blockchain in commodity markets.
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- China’s Cangdeng Chain records metal warehouse receipts entirely on-chain for verification.
- The platform targets forged documents, duplicate financing, and unclear ownership.
- NCWR had registered over 277,000 tonnes of commodities through its systems by May 2026.
China has launched a blockchain warehouse receipt platform in Shanghai, completing its first digital transactions for non-ferrous metals. The system creates receipts on-chain instead of uploading documents produced through separate databases.
Known as the Cangdeng Chain, the platform was initiated by the National Commodity Warehouse Receipt Registration Center, or NCWR. CMST Development, Bank of Communications, Shanghai Data Group, and the National Blockchain Technology Innovation Center helped develop it.
Blockchain Receipts Bring Metals Onto a Shared Ledger
Built on China’s Shipping and Trade Ch…
Read The Full Article China Launches Blockchain Warehouse Receipt Platform for Non-Ferrous Metals On Coin Edition.
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