🇨🇳Guangdong launched Token Loan (词元贷) with three banks; Bank of China completed the first credit approval.

Guangdong’s first specialized financial product for the token economy, Token Loan (词元贷), was formally launched in Guangzhou’s Haizhu District. Bank of China, China CITIC Bank and Bank of Guangzhou are participating in the initiative.

Bank of China completed the first credit approval under the product. The source characterizes this as a credit approval, without disclosing the approved borrower, loan amount, interest rate, maturity, collateral structure or whether funds had already been drawn.

The product is aimed at AI-industry-chain companies described as having light assets, limited financial statements and fragmented cash flows. Their core assets may consist of algorithms, models, data and code rather than factories, real estate or heavy machinery commonly used as traditional loan collateral.

Token Loan is intended to address the timing mismatch between upfront compute purchases and the receipt of operating revenue. The source states that the facility is designed to ease cash-flow shortages during rapid expansion, but it does not provide aggregate facility size or bank-by-bank commitments.