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.
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