HSBC Targets China Trade With Yuan-Demoninated Blockchain Letter of Credit
HSBC has carried out the first blockchain-based letter of credit transaction denominated in Chinese yuan.
The third largest bank by assets in Japan, is set to begin utilizing R3's Marco Polo trade finance blockchain on a commercial basis by the end of 2019.
Swiss financial giant UBS has started full-fledged transactions on we.trade, a blockchain-based trade finance platform.
Asian banking giant DBS and multinational commodity trading firm Trafigura Group are tapping blockchain to facilitate global trade.
Automaker Daimler has carried out its first commercial transaction on the blockchain-based Marco Polo trade finance network.
The sixth-largest U.S. company has joined Marco Polo, a consortium working to bring efficiencies to international trade using blockchain tech.