September 03 - 09:09
HSBC takes blockchain step
HSBC has processed the first yuan-based letter of credit transaction on blockchain. The milestone was achieved using the Voltron trade finance blockchain platform built by HSBC and seven other banks. HSBC is targeting the commercial roll-out of the platform by the end of this year, or latest 2020. Speeding up such transactions could ultimately open up more finance to SMEs.
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