Sign up for The Paypers newsletter Follow The Paypers on LinkedIn Follow The Paypers on Twitter Follow The Paypers on Facebook Follow The Paypers on Google +
The Paypers, paypers, Insight in payments, News, Reports, Events
 advertisement
Online & Mobile Banking

Nordea joins blockchain based trade finance platform

Tuesday 5 December 2017 | 02:06 PM CET

Nordea has joined the we.trade consortium developing a platform based on distributed ledger technology (DLT).

The we.trade consortium aims to make domestic and cross-border commerce easier, safer and more efficient for companies.

In entering the we.trade initiative, Nordea joins Banco Santander, Deutsche Bank, HSBC, KBC, Natixis, Rabobank, Société Générale and UniCredit as a founder member of the consortium and extending its geographical coverage into the Nordic markets.

The we.trade platform will facilitate secure international trade between SMEs, seamlessly connecting the parties involved in a trade transaction, ie the buyer, buyer’s bank, seller, seller’s bank and transporter. The platform will be accessible 24/7 from any connected device.

Nordea plans to roll out the we.trade platform to its customers across the Nordics and is the first bank in the region to deliver a customer-facing trade solution based on DLT.

More: Link
 advertisement
 advertisement
 advertisement
 advertisement