Deutsche Bank, HSBC & IBM are testing blockchain-based bank transfers

Verified
5 months ago
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The first cross-border commercial transactions were conducted on the platform called we.trade – an initiative created by a group of financial giants, including Deutsche Bank, HSBC and Rabobank. These transfers are not only cross-border and multi-bank, but also blockchain-powered.

Lately, 10 companies conducted trading on the platform we.trade via four different banks in five countries. The list of participants includes Santander, Société Générale and others – from 11 European countries.

After we.trade is fully operational, the platform is supposed provide an economical solution at the enterprise level.