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Trade Finance

Discover how R3 is reshaping trade finance networks across the world.

Blockchain for trade finance: how DLT/blockchain technology is reshaping the industry

The trade finance ecosystem remains an opaque and fragmented industry heavily dominated by paper processing and multiple participants along the transaction lifecycle. The antiquated processes burden all of the companies involved—banks, importers and exporters, insurers, export credit agencies and various service providers. With rising costs and operational risk, the industry has been seeking solutions to simplify, better manage, and digitize trade, making it ripe for the benefits of blockchain technology.

Why Corda?

 

Data provenance is visible and verified by all counterparties

 

Platform standardization across trade finance and trade credit insurance solutions unlocks opportunities to do business in new markets across the globe

 

Leverage Corda Network to connect with similar trade finance business networks across R3’s ecosystem, facilitating new partnerships, uncovering new liquidity pools and finding new trading hubs

 

Smart contracts allow legal representation of trade documents for execution of global trade transactions

 

Regulatory compliance is simplified through real time auditing in the business logic flow

 

Access to the largest networks of carriers, freight forwarders, inspection agents, chambers of commerce and other trade facilitators, in partnership with Bolero and essDOCS

Testimonials

Hot on the heels of completing live trade finance transactions on the Marco Polo network in April 2019, we have licensed Corda Enterprise to support the next steps on our journey. The ability to host nodes behind corporate firewalls, combined with the additional deployment and support services build on the platform’s strength in delivering interoperability, security and privacy and will help to scale up the network as the ecosystem grows.

Rob Barnes

CEO, TradeIX

At CryptoBLK, we are constantly striving to make transactions safer, smarter and faster for everyone in the supply chain financing. This is why we chose to develop our trade finance solution on Corda, opening up seamless connectivity across multiple trade networks.

Dr. Duncan Wong

Founder and CEO, CryptoBLK

According to World Bank estimates, more than 70% of MSMEs in Asia, Africa and emerging markets lack access to credit. We, at Kratos Innovation Labs, trust R3's Corda as our preferred platform to bring a true decentralized credit access to MSMEs.

Satheesh Kumar Paddolker

Founder and CEO, Kratos Innovation Labs

Success Stories

Gavea

Gavea is a Brazilian startup company in the agricultural technology space. Their solution is an exchange that connects commodity buyers and sellers. This unique exchange makes the negotiation and trading process traceable, cheaper and more efficient.

Contour

Contour is the digital trade network of the world’s leading trade banks, harnessing Corda Enterprise to bring transformational efficiencies to documentary trade. Following 14 public live pilots in 14 countries, Contour has proven to reduce end-to-end processing time for LC’s by 90% or more, simplifying the process for all participants and enabling new business opportunities for banks, corporates and trade ecosystem players. After two years of extensive testing, Contour moved into live production in October 2020.

Digital Venture's Blockchain for Procure to Pay

Digital Venture's supply chain management platform - Blockchain for Procure-to-Pay (B2P) - powered by Corda Enterprise - is poised to revolutionize the efficiency of global trade. It is the world’s first fully integrated blockchain solution for Procure-to-Pay.

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