The China Banking Association (CBA), the country’s self-regulatory organization for the banking sector, is launching a new blockchain-based platform for trade finance.
The platform was announced last week while the organization is in the process of rolling it out for live usage after several pilot programs aimed at improving the efficiency and security of trade finance transactions.
Over 10 major banks in the region have signed up for the platform, including HSBC (China), Bank of China, China Merchants Bank, Ping An Bank, China Postal Savings Bank, among others.
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