Trade Finance

China

HSBC Targets China Trade With Yuan-Demoninated Blockchain Letter of Credit

HSBC has carried out the first blockchain-based letter of credit transaction denominated in Chinese yuan.

Business  ·  3 September 2019
Banking

R3’s Marco Polo Trade Blockchain Takes Another Step Toward Production

The trade finance blockchain platform has passed another milestone in its development, with a successful pilot of real-time payment triggers.

Business  ·  14 August 2019
Investments

New Zealand’s ASB Bank Takes Stake in Trade Finance Blockchain Startup

ABS has invested a "significant" amount in TradeWindow, a startup working to put trade finance on a blockchain.

Business  ·  13 August 2019
Standard Chartered Bank

Standard Chartered Completes First Transaction on Blockchain Trade Platform Voltron

Standard Chartered Bank has completed its first international letter of credit transaction on the open-industry blockchain trade platform Voltron.

Business  ·  7 August 2019
Russia

Russian Retailer Dixy Using Ethereum Tech to Streamline Trade Finance

Grocery chain Dixy has partnered with a blockchain startup to greatly reduce the time it takes to pay suppliers

Business  ·  5 June 2019
Tokenization

Bitfury, Tech Firm Mphasis Plan Blockchain Disruption in Trade Finance

Blackstone-owned IT firm Mphasis has partnered with blockchain tech firm Bitfury to automate and tokenize trade finance processes.

Business  ·  29 May 2019
Banking

Over 50 Banks, Firms Trial Trade Finance App Built With R3’s Corda Blockchain

ABN Amro, Standard Chartered and around 50 other firms have participated in tests of Voltron, a trade finance platform built with R3's Corda.

Business  ·  8 May 2019
Banking

We.Trade Co-Founder Mancone Is Leaving the Enterprise Blockchain Firm

Roberto Mancone is leaving we.trade, the live trade finance blockchain platform which he helped grow into a legal entity comprising 14 banks.

Business  ·  29 April 2019
Japan

Top 3 Japanese Bank to Roll Out Services on Marco Polo Blockchain

Sumitomo, Japan’s third-largest bank by total assets, will launch blockchain-based trade finance services in the second half of this year.

Business  ·  25 April 2019
Regulation

China’s Foreign Exchange Regulator Piloting Blockchain in Trade Finance

The agency that regulates and manages China's foreign exchange reserves will trial a blockchain system addressing inefficiencies in cross-border trade.

Policy & regulation  ·  24 April 2019
Supply Chain

Marco Polo Blockchain Built on R3’s Corda Sees First Live Trades

The first real transactions have been conducted on Marco Polo, a trade finance blockchain built on R3's Corda platform.

Business  ·  28 March 2019
Forex

Citi Has Scrapped Its Plan for a JPM Coin-Like Bank-Backed Cryptocurrency

Several years back Citi tested a bank-backed cryptocurrency similar to JPMCoin. The lesson it learned? It's easier to rely on SWIFT.

Business  ·  18 March 2019
Banking

The First Live Enterprise Blockchain Sets Sights on Every Area of Global Trade

Trade finance DLT platform we.trade is seeking partnerships with other networks, with TradeLens and Tradeshift as prime candidates.

Business  ·  10 January 2019
China

Chinese Bank Giants Tap Blockchain in Trade Finance Efficiency Boost

The China Banking Association, the country’s self-regulatory organization for the banking sector, has launched a new blockchain-based platform for trade finance.

Markets  ·  4 January 2019
India

Firm Owned by India’s Richest Man Turns to Blockchain for Trade Finance

Reliance Industries – owned by India's richest person, Mukesh Ambani – has used blockchain to conduct its first trade finance transaction.

Business  ·  5 November 2018