Members of the central banks of Singapore and Hong Kong have revealed that a number of banks have now joined their recently announced blockchain-based trade network.
Expected to launch by early 2019, the new network will now involve participation from over 20 global banks and financial institutions, a Business Times report says. The announcement of the new members of the project was made during the Singapore Fintech Festival on Thursday.
The proof-of-concept – called the Hong Kong Trade Finance Platform (HKTFP) – is a collaboration between the Hong Kong Monetary Authority (HKMA) and the Monetary Authority of Singapore (MAS), aimed to digitize trade finance using distributed ledger technology (DLT)…
Read Full: Over 20 Banks Join Singapore-Hong Kong Blockchain Trade Network – CoinDesk