R3, TradeIX and a Dozen Global Banks to Streamline Open Account Trade Finance

[kreslik.news]

R3 and trade finance technology firm TradeIX today announced a joint initiative for the overhaul of the open account trade finance infrastructure using blockchain technology. It encompasses twelve banks including Bangkok Bank, Barclays, BBVA, Bladex, BNP Paribas, Commerzbank, CTBC Bank, ING, Intesa Sanpaolo, Shinhan Bank, Royal Bank of Scotland and Wells Fargo.

Learn how to buy Bitcoin and Ethereum safely with our simple guide!

The group is developing an end-to-end open account trade finance business network which will be powered by TradeIX and R3’s Corda distributed ledger platform. The initial development phase involves creating standard trade finance smart contracts on a ... (read more)