Posts in category

Trade Finance


London’s CordaCon 2018, an annual gathering hosted by R3 to celebrate everything happening on the Corda platform and its developer community, appeared to be in rude health this year with standing room only in many of the presentations. The event saw some 1,150 registrations over the two days – exponential growth from last year, noted …

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Blockchain is able to fill in much of the $1.5 trillion-dollar supply-demand gap in global trade finance by easing financing for small- and medium-sized enterprises (SMEs) in emerging markets, new research says. Jointly conducted and released by the World Economic Forum and Bain & Company, the research indicates that, by deploying blockchain, global businesses can …

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A blockchain trade finance platform spearheaded by China’s central bank has entered the testing phase ahead of an official roll-out. According to a report from 21st Century Business Herald on Tuesday, the first phase of the so-called Bay Area Trade Finance Blockchain Platform is already deployed across financial institutions in the southern city of Shenzhen and is …

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Multinational banking firm Standard Chartered is teaming up with the financial arm of manufacturing giant Siemens for a pilot scheme that puts bank guarantees for trade finance on a blockchain. According to a report from IBS Intelligence, the effort – that also includes assistance from digital ledger firm TradeIX – is aimed to move the …

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CrimsonLogic, a Singapore-based e-government service provider owned by a government agency and a port operator giant, has announced the launch of a blockchain platform focused on cross-border trade. The company said in a statement that its fully-owned subsidiary GeTS revealed the service on Wednesday. Dubbed GeTS Open Trade Blockchain, the platform is a permissioned network …

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Trade finance is possibly the busiest space in enterprise blockchain today. And while the people behind the different platforms may say they’re not in competition, that’s not how it looks from the outside. Announced today, NatWest, a part of the Royal Bank of Scotland, has joined Marco Polo, the consortium started by enterprise blockchain startup …

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The Hong Kong Monetary Authority (HKMA), the autonomous Chinese territory’s de facto central bank, is poised to launch a live blockchain trade finance platform within two months. “The Trade Finance Platform is a blockchain project initiated by 7 banks in Hong Kong. The project has been facilitated by the HKMA and is targeted for launch …

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Even if blockchain fatigue may have set in among bankers, there’s at least one use case they’re still clearly excited about: trade finance. At least, that was the impression given at the Blockchain Summit in London this week, where a range of bankers talked enthusiastically about the digital trade finance platforms they are building and …

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When HSBC’s Vinay Mendonca thinks about how distributed ledger technology (DLT) will reshape global trade, he sees two scenarios – one inspiring, the other dispiriting. In the best case, blockchains and other digital platforms should do for the global value chain what shipping containers did for the physical transportation of goods. Just as the standardized …

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Global trade is not just a question of moving merchandise from one point to another. Goods do need to move, but they do so through a web of intermediaries, each with distinct priorities and systems. Exporters, importers, banks, truckers, shippers, customs agents and regulators all require checks and verifications at various points along the chain, …

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Batavia, a blockchain-based trade finance platform founded by banking giant UBS in partnership with IBM, has conducted its first live cross-border transactions involving corporate clients. According to an announcement released Thursday, the pilot effort saw the platform carry out the full cycle of trades, automatically forming agreements and closing payments, in a process powered by …

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Banking giant ICICI is moving ahead with a previously revealed blockchain trade finance initiative. Announced Tuesday, the India-based company has enlisted more than 250 corporates to undertake domestic and international trade finance transactions using ICICI’s blockchain platform. Corporate firms have signed up on the bank’s blockchain application and are using the technology in cross-border remittance for the …

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Blockchain software startup R3, trade finance tech provider TradeIX and a group of major banks have moved their Marco Polo trade finance platform to the pilot stage. The news follows on from what the firms call in a press release a “successful” proof-of-concept that commenced last September in partnership with BNP, Commerzbank and ING. The …

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Oliver Bussmann is founder and managing partner at Bussmann Advisory, the president of not-for-profit Crypto Valley Association and former group CIO and managing director at UBS. The following article is an exclusive contribution to CoinDesk’s 2017 in Review. 2017 was a year of tremendous growth for blockchain, though not in the expected ways. At the beginning …

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A senior official for the government of Hong Kong has said blockchain could bolster China’s ongoing efforts to significantly expand its trade capabilities. According to Chinese news service Caixin, James Lau, Hong Kong’s Secretary for Financial Services and the Treasury, touted the technology during a forum appearance on Friday. Lau said that blockchain would bring “great …

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