Nordic private banking institution Nordea is expanding its offering of the blockchain-based trading platform we.
Trade to its small and middle-sized business customers, according to a press release on May 9.The platform will purportedly help address trust deficits extant in current cross-border trades made by SMEs.
"Almost 60 percent of the SME's said that they have to make advance payments so there is obviously a sense of insecurity surrounding cross-border trade. This is unfortunate, not only from a liquidity standpoint, it may also lead to companies refraining from trading and not growing."
Trade platform, users can select certain events within a smart contract that will trigger a payment to another party.
We.trade is a joint project of 12 different banks including Deutsche Bank, HSBC, KBC, Natixis, Rabobank, Santander, Société Générale and UniCredit, and is based on the IBM Blockchain platform.
Nordea joined the project in 2017 and soft-launched it for select customers last month.
Nordea is a major private bank in the Nordic region.
While Nordea is accepting of blockchain technology, it takes a hard line against cryptocurrencies.
In January 2018, the bank banned its employees from owning bitcoin.
The founder of Bitmynt sued Nordea, but lost his case in May 2018.
Nordic Banking Giant Nordea Opens Blockchain Trading Platform to More Clients
pubblicato su May 10, 2019
by Cointele | pubblicato su Coinage
Coinage
Notizie recenti
Vedi tutti
Blockchain Bites: Bitcoin's Run, Uniswap's Hemorrhaging Value, Anchorage's Banking Bid
Bitcoin is nearing all-time highs in price and market cap last set three years ago.
Japan's megabanks to lead experiment with digital yen
We have, in order, Cheese Bank with a $3.3 million theft, Akropolis with its $2 million loss, Value DeFi with a whopping $6 million exploit and finally Origin Protocol's loss of $7 million.
Number of new Bitcoin addresses spikes amid growing FOMO
Japan's three largest banks, as part of a group of 30 private sector actors, are set to collaborate on an experiment with a digital yen.
Not just Wall Street: Quant trader explains why Bitcoin price is going up
Sam Trabucco, a quantitative trader at Alameda Research, believes four general factors are pushing up the price of Bitcoin.