China Injects $4.7M Into Central Bank’s Blockchain Trade Finance Platform
Thirty-eight banks have started using the platform since it entered the test phase in September 2018.
Decentralized finance may soon boast a real-world use case as MakerDao considers accepting freight invoices as collateral for dai loans.
IBM has become a shareholder in we.trade, the blockchain-based trade-finance platform jointly owned by 12 European banks.
BHP has completed its first trial trade transaction of iron ore with China's Baosteel using blockchain technology.
The bank said the blockchain letter-of-credit transaction – between mining giant Rio Tinto and Chinese firm Baosteel – was the first to be denominated in yuan.
The bank has signed on to a blockchain-based trade finance network from Contour with the aim of bringing corporate settlements into the digital realm.