Japan’s Third Largest Bank Completes Blockchain Trade Finance Test

Sumitomo Mitsui Banking Corporation (SMBC), 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 the year. The bank said on Friday last week that a cross-border proof-of-concept test was successfully completed involving Mitsui & Co, a Japanese […]

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Chinese Bank Giants Tap Blockchain in Trade Finance Efficiency Boost

The China Banking Association (CBA), the country’s self-regulatory organization for the banking sector, is launching a new blockchain-based platform for trade finance. The platform was announced last week while the organization is in the process of rolling it out for live usage after several pilot programs aimed at improving the efficiency and security of trade finance transactions. […]

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