Standard Chartered has gathered a group of crypto exchanges for a new digital asset trading platform tailored to the institutional market, according to sources.
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.
Standard Chartered has invested in Contour, the recently-rebranded Voltron blockchain trade finance platform digitizing letters of credit for financial institutions.