Seven Major Banks Collaborate on a Blockchain-Based Trade Finance Project
Seven major banks and financial institutions including HSBC, Deutsche Bank, KBC, Natixis, Rabobank, Societe Generale and UniCredit signed a Memorandum of Understanding hereinafter MoU in Brussels to develop a Blockchain-based trade finance and supply chain platform. Upon the completion and implementation of the joint project, the seven institutions will focus on implementing their Blockchain platform to optimize trade finance operations. The platform, which is based on a technology called Digital Trade Chain hereinafter DTC developed by the Belgian bank KBC, is expected to settle both....
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A group of seven large European banks has signed a memorandum of understanding (MoU) to develop a blockchain-powered cross-border trade finance platform for small and medium-sized companies in Europe. The participating banks are UK-based banking giant HSBC, Dutch institution Rabobank, French financial institutions Société Générale and Natixis, Italian banking group UniCredit and Belgium-based KBC. Aimed at bettering domestic and cross-border commerce cross-border commerce for companies in Europe, the newly form banking group will come together to develop, deploy and push for adoption of....