The trade finance blockchain platform has passed another milestone in its development, with a successful pilot of real-time payment triggers.
Sumitomo, Japan’s third-largest bank by total assets, will launch blockchain-based trade finance services in the second half of this year.
The first real transactions have been conducted on Marco Polo, a trade finance blockchain built on R3's Corda platform.
NatWest, part of Royal Bank of Scotland, has joined Marco Polo, a blockchain consortium started by R3 and trade finance specialist TradeIX.
Bangkok Bank has joined the Marco Polo trade finance initiative developed by blockchain startup R3 and trade finance technology firm TradeIX.