Bank of America Joins Marco Polo Blockchain Trade Network
The sixth-largest U.S. company has joined Marco Polo, a consortium working to bring efficiencies to international trade using blockchain tech.
The trade finance blockchain consortium claims that it completed more than 700 funding requests with around 340 participants.
Bank of New York Mellon has joined the Marco Polo trade finance consortium running on R3’s Corda, becoming the 28th bank to do so.
Accenture plans to help TradeIX create new use cases beyond banking for buyers and sellers within trade finance after backing the Marco Polo tech partner.
Marco Polo, the trade finance blockchain with over 20 global banks on board, is piloting its first trading arrangement between Germany and Russia.
Automaker Daimler has carried out its first commercial transaction on the blockchain-based Marco Polo trade finance network.