HSBC & ING Carry Out First Trade Finance Blockchain Deal

[kreslik.news]

History was made this Monday when HSBC India andING Bank Brussels carried out the first trade finance deal ever made over the blockchain.

The deal was carried out between Tricon Energy USA – a petrochemicals broker – and Indian conglomerate Reliance Industries, with HSBC acting as advising bank to the latter and ING as the issuing bank to the former.

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Two key components of the deal were carried out over the blockchain and, even taking into account all of the ballyhoo surrounding the technology, their shift ... (read more)