Marco Polo Network is leveraging blockchain technology to reduce costs, risks and improve efficiencies in financing trade. The initiative is using the TradeIX platform and R3’s blockchain platform, Corda.
Anglo-Gulf Trade Bank was established to help address a global trade finance gap estimated at USD 1.5 trillion. The company is based in the Abu Dhabi Global Market (ADGM), the international finance centre in the capital of the United Arab Emirates, and has plans to open additional offices in the UK, Saudi Arabia, India, and Asia, subject to regulatory approvals.
AGTB will employ a number of technological advances including big data analytics, distributed ledger, and cloud computing to offer a client-centric trade banking service to a broad range of corporate clients to educe costs, risks and improve efficiencies in financing trade. The bank plans to launch in early 2019, subject to final regulatory approval. Anglo-Gulf Trade Bank joins a growing list of members including BNP Paribas, Commerzbank, ING, Standard Chartered Bank, Natwest, Natixis, Bangkok Bank, SMBC, DNB, and OP Financial Group.
Every day we send out a free e-mail with the most important headlines of the last 24 hours.
Subscribe now
We welcome comments that add value to the discussion. We attempt to block comments that use offensive language or appear to be spam, and our editors frequently review the comments to ensure they are appropriate. If you see a comment that you believe is inappropriate to the discussion, you can bring it to our attention by using the report abuse links. As the comments are written and submitted by visitors of the The Paypers website, they in no way represent the opinion of The Paypers.