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Tag: HSBC blockchain

European Banks Complete First Blockchain Financial Trades FTSE / NASDAQ NEWS 

Nine Major European Banks Complete First Blockchain Financial Trades with ‘we.trade’

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A consortia of nine major European banks including HSBC, Santander and Société Générale, have announced the successful completion of the first ten blockchain financial trades, made using their jointly developed blockchain platform, we.trade. The trade solution, built on IBM’s Hyperledger Fabric blockchain, is aimed to be a game changer for SME commercial banking clients within Europe. Available across eleven countries, COO Roberto Mancone confirmed it will begin licensing to other banks over the coming months, expanding its reach globally.

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blockchain trade finance transaction FTSE / NASDAQ NEWS 

HSBC Completes Blockchain Trade Finance Transaction on Corda Platform

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HSBC says it has completed the world’s first ‘commercially viable’ blockchain trade finance transaction with Dutch lender ING, for the U.S. food and agricultural group Cargill. HSBC’s claim that the Corda blockchain platform, developed by blockchain start-up R3, is ready for commercial use by the $9tn market for trade finance. Vivek Ramachandran, HSBC’s head of innovation and growth for commercial banking said, “The next stage is actually encouraging as many participants as possible to sign up to the utility”.

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