Trafigura, Natixis, and IBM launch new blockchain ledger geared for crude oil trade finance. They say every party in the payment ecosystem will be able to access it and benefit from the technology
Blockchain's first trade financing between two banks saved its customer days on paper processing, as an LC was transferred between the Commonwealth Bank of Australia and Wells Fargo.
Long the tool of choice in trade finance, fewer companies are using a letter of credit for its traditional purpose – but don't expect LCs to disappear any time soon.
Fintech start-up Wave successfully completes groundbreaking letter of credit deal between companies in Ireland and the Seychelles using ledger technology blockchain.
Commodities are unlikely to enter a full-on bull market phase in 2017, but are still expected to present buying opportunities for investors and treasurers.