Category: trade finance

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HSBC Deems Blockchain Infrastructure for Trade Finance Commercially Viable

TheMerkle_HSBC Money launderingBlockchain technology can be a viable tool when put in the right hands. HSBC is one of the many banks exploring the boundaries of this innovative technology. The company recently conducted and completed its first trade finance deal using a distributed ledger. It’s a very positive development for the blockchain industry, as global adoption seems imminent. HSBC Has a Major Breakthrough It is evident financial institutions all over the world are quite keen on how blockchain technology can transform and revolutionize their business models in the future. As of right now, a lot of tests are taking place, but not too many

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Batavia, UBS and IBM’s Joint Platform, Completes First Live Trade

TheMerkle_Banks CryptocurrenciesBatavia, a blockchain trade finance platform, has successfully completed its first live corporate cross-border transaction. The platform is a joint venture between tech giant IBM and leading banks including Swiss bank UBS, European financial services firm Erste Group, the Spanish CaixaBank, German giant CommerzBank, and Bank of Montreal. This initial transaction saw the platform facilitate the exchange of cars from Germany to Spain and raw materials from Austria to Spain. A Watershed Moment The success of the pilot was an important milestone for Batavia and involved the facilitation of the full trade cycle. In a process that’s powered by smart contracts,

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