News

News

Member News: Standard Chartered to Jointly Launch a Trade Finance Platform

Member News: Standard Chartered to Jointly Launch a Trade Finance Platform

According to Reuters, Hong Kong’s banking regulator and seven banks, including SME Finance Forum member Standard Chartered PLC said they will jointly launch a trade finance platform in September using blockchain technology. Reuters says the platform will be one of the largest examples globally of a government-led, cross-bank effort to reform the multi-billion dollar trade finance sector using the distributed ledger technology that underpins digital currencies such as bitcoin.