Seven European banks join forces for blockchain platform for SMEs

Image Source: Article

Image Source: Article

Seven European banks – Deutsche Bank, HSBC, Natixis, KBC, Rabobank, Société Générale and UniCredit – have agreed in principle to develop a blockchain-based shared platform for domestic and international commerce for SMEs.

The memorandum of understanding (MoU), signed by all the parties above, will see “the development and commercialisation of a new product called Digital Trade Chain [DTC]” that will “harness the power of distributed ledger technology [DLT]”.

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