BNY Mellon Aims to Go Live ‘ASAP’ on Trade Finance Blockchain Marco Polo

Bitcoin News

BNY Mellon chose Marco Polo because the blockchain works well for open account financing, which makes up around 85 percent of trade finance, and works well for large corporates, Kim said. (In open account transactions, the goods are shipped and delivered before payment is due; with letter-of-credit financing, the bank guarantees a buyer’s payment ahead of time). 

Products You May Like

Articles You May Like

Fake Manchester United token soars 3,000% after Elon Musk jokes about buying team
Malcolm Gladwell, addressing criticism: ‘Solitary work’ can be done at home but for creative work, ‘offices really do matter’
Bitcoin traders anticipate new yearly lows after BTC’s $25K rejection — Data disagrees
Bitcoin price hits multiday low as data warns of ‘overbought’ stocks
Price analysis 8/17: BTC, ETH, BNB, XRP, ADA, SOL, DOGE, DOT, SHIB, AVAX

Leave a Reply

Your email address will not be published.