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 is the chairman and co-founder of LendIt Fintech, the world’s first and largest digital media and events company focused on fintech.

LendIt Fintech conducts three conferences a year for the leading fintech markets of the USA, Europe, and Latin America. LendIt also provides cutting-edge content all year long via audio, video, and written channels.

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.

Peter has been interviewed by the Wall Street Journal, Bloomberg, The New York Times, CNBC, CNN, Fortune, NPR, Fox Business News, the Financial Times, and dozens of other publications.

Subscribe
Notify of
0 Comments
Inline Feedbacks
View all comments