SWIFT – The Society Worldwide Interbank Financial Telecommunication was founded in 1973 and has been the global standard for financial messaging between banks ever since. The messaging service is used by over 11,000 banks and institutions across 200 countries and have sent over three billion financial messages so far in 2019.
The International Chamber of Commerce (ICC) Banking Commission has today released a whitepaper urging the trade finance industry to work together to ensure that regulation does not hinder the availability of trade finance and remains relevant in a digital landscape.
The world’s largest exporter, China is set to grow with its huge Belt and Road Initiative (BRI) over the next few years. TFG heard from Lantana Tech’s CEO, Derek Lee, on some of the challenges and opportunities within this market.
“Having experienced the fulfilment of serving the public, you can be sure that I will seek to contribute again” – Baroness Rona Fairhead CBE in her letter of resignation to PM Theresa May
The ecosystem of cross border trade can be a complex one, and a level of assurance is needed to ensure proper levels of trade can be reached as efficiently as possible. A Bill of Lading, sometimes shortened to B/L acts as such assurance, as when issued by a carrier of goods it presents acknowledgement of the receipt of the cargo for shipment.
Why distributed platforms and networks can achieve global scale and adoption previously impossible with legacy technologies, architecture, and business models.
Trade Finance Global today releases a map of networks and consortia in the trade finance and shipping space. Highlighting the key technology providers, DLT involved, banks and participants on each network, the map provides insight into the complex ecosystem of blockchain players in trade finance.
SoftBank – A multinational phone, internet, energy, robotics and holdings conglomerate that operates out of Japan has recently injected $2.2 billion into 3 companies operating within the trade/business finance space.
TFG exclusive podcast with komgo, we heard from CEO Souleïma Baddi talking about bringing blockchain and distributed ledger technology to commodity finance.
In the early hours of the morning, President Trump raised a further $200bn worth of tariffs on Chinese exports (5,700 different products to be exact), moving the tariff from 10% to 25%.
