China Banks Launching a Blockchain-Based Platform for Trade Finance

The China Banking Association is launching a blockchain-based program aimed at improving the efficiency and security of trade finance transactions; more than 10 large Chinese banks have signed up for the platform; two pilots have already been completed for issued letters of credit and asset-backed securities; an executive at HSBC China said, “The launch of China’s trade finance blockchain has brought together the trade chain of different banks to make cross-bank transactions much faster, safer and more realistic.” Source.

  • Peter Renton

    Peter Renton is the chairman and co-founder of Fintech Nexus, the world’s largest digital media company focused on fintech. Peter has been writing about fintech since 2010 and he is the author and creator of the Fintech One-on-One Podcast, the first and longest-running fintech interview series.