Those behind blockchain-based trade finance platform we.trade, which completed its first round of transactions this month, have acknowledged that banks will have to support multiple platforms to offer a rounded digital trade service.
The trades, executed by 10 companies via four banks on the we.trade platform – a consortium of Deutsche Bank, HSBC, KBC, Natixis, Nordea, Rabobank, Santander, Société Générale and UniCredit — have been described as the first commercially viable open account trades to harness blockchain technology.
