Jonny Fry Posted

Trade finance platforms to help European SMEs

HSBC is the first bank to complete a transaction using, based in Dublin, which is a  Blockchain-powered platform backed by 12 shareholders, including CaixaBank, Deutsche Bank, Natixis, Nordea, Rabobank, Santander, Société Générale and HSBC. was set up in 2017 tomanage, track and securely facilitate transactions between SMEs in Europe. The platform intends to support three majorsteps in SME trading, including access to counterparties for transactions that describes as ‘bank payment undertaking’ (BPU) from its banks. HSBC calls the BPU“an on-line equivalent of a letter of credit (LC)”.
Other similar on-line platforms...