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E-invoicing, SCF & E-procurement

Natixis joins Marco Polo, the Trade Finance Network powered by Blockchain Technology

Thursday 31 May 2018 | 01:12 PM CET

Natixis has announced that it has joined the trade finance network Marco Polo, in to offer blockchain-powered trade finance solutions to its clients.

Marco Polo is one of the fastest growing trade finance business networks and is a joint undertaking with enterprise software firm R3, trade finance technology firm TradeIX and a network of the world’s largest financial institutions. 

Natixis is now part of a growing number of leading banks such as BNP Paribas, Commerzbank, ING, Standard Chartered Bank, Bangkok Bank, SMBC, DNB and OP Financial Group that are part of the Marco Polo initiative to provide a trade and supply chain finance platform built on an interoperable business network powered by open Application Programming Interfaces (APIs) and blockchain technology.

Based on R3’s Corda blockchain technology, the infrastructure provided by Marco Polo is focusing on open account trade finance orchestrations with data matching, designed to be integrated in new and existing solutions and other trade networks. The principal focus of the Marco Polo initiative is adding new bank members, offering trade finance solutions to their corporate clients and the opportunity to distribute trade assets and data with other members.

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