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

Almost half of Americans think we’re already in a recession. Here’s how to prepare if they’re right
Reformed ‘altcoin slayer’ Eric Wall on shitposting and scaling Ethereum
Bithumb in turmoil, Binance’s 47K law requests, Axie players down 85%: Asia Express
Goldman Sachs CEO David Solomon gets 29% pay cut to $25 million after tough year
Opinion: 3 tips for trading Ethereum this year

Leave a Reply

Your email address will not be published. Required fields are marked *