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we.trade announces first live trade transactions on the platform

Tuesday 3 July 2018 13:12 CET | News

we.trade has confirmed that the first live trades have taken place on the platform - over the last 5 days, 10 companies have executed trades, via 4 banks.

These trades signify the first commercially viable open account trades, harnessing blockchain technology.

The we.trade platform is a live, blockchain based trade platform. The solution, built on the IBM Blockchain Platform, powered by Hyperledger Fabric, offers customers access to a simple user-interface, leveraging Smart Contracts and opens up potential new trading opportunities.

we.trade was established by Deutsche Bank, HSBC, KBC, Natixis, Nordea, Rabobank, Santander, Societe Generale and UniCredit to address the expectations of their customers to make cross-border trade more straightforward. The consortium has succeeded in meeting each banks internal governance and procedures requirements.

At present we.trade is available across eleven European countries: Belgium, Denmark, Finland, France, Germany, Italy, the Netherlands, Norway, Spain, Sweden and the UK. we.trade expects to expand into additional markets in Europe and globally as further banking partners come on board.


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Keywords: we.trade, trade transactions, banks, blockchain, trading, Europe, cross-border
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Countries: World