Going Live by September Hong Kong’s Blockchain Trade Finance Platform

2018-7-16 20:37

The Hong Kong Monetary Authority (HKMA), the autonomous Chinese territory’s de facto central bank, is poised to launch a live blockchain trade finance platform within two months.
“The Trade Finance Platform is a blockchain project initiated by 7 banks in Hong Kong.
According to a report from the Financial Times on Monday, the HKMA’s blockchain platform has 21 banks participating as participating nodes, including HSBC and Standard Chartered.
When and if it goes live, the HKMA project will be one of the first live blockchain trade finance platforms backed by a government institution.
Earlier this month, a group of European banks also announced that a trade finance blockchain platform dubbed We.Trade empowered by technology giant IBM is also live.

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