Bank of Montreal, CaixaBank, Commerzbank, Erste Group, IBM and UBS Collaborate to Advance an Open, Blockchain-based Trade Finance Platform
New platform designed to support trade finance transactions
4 October, 2017 – 04 Oct 2017: Bank of Montreal (BMO), CaixaBank, Commerzbank and Erste Group have joined an initiative launched by UBS and IBM (NYSE: IBM) in 2016 to build a new global trade platform based on blockchain technology. This new platform, called Batavia, is built to be openly accessed by organisations of all sizes anywhere in the world, and can support trade finance for transactions across all modes of trade, whether goods are being transported by air, land or sea. (more…)