Posts Tagged ‘cross border trade’

World trade is central to economic growth and as we emerge from the pandemic, trade is paramount in enabling the global economy to recover. Is the time really now, for digitising trade, and how can advance the dialogue to reduce friction, costs and risk?

Digitalisation has become a global priority, however, efforts to digitalise trade have been hindered by legislative gaps.

The virtual Summit on the New Global Sanctions Regime organised by City & Financial Global is taking place on the 12th of July of 2021.

Since Brexit, UK businesses and their EU clients have been hit with increased euro transaction fees which could potentially cost them millions.

In the UK Boris Johnson announced a further loosening of lockdown restrictions, reopening most remaining leisure facilities and dropping advice that public transport should be used for essential journeys only.

All IBAS GTF – Global Trade Finance Factory user banks, including ABN AMRO Bank, have adhered to the SWIFT Release 2018 standards since switchover on 18 November 2018 London –… read more →

Last week, Dubai based TradeAssets announced the launch of a trade finance e-marketplace for banks. The banks, primarily Bangladeshi, are helping to bridge the gap in the secondary market for trade finance banks.

Just two days ago, Japanese financial institution Sumitomo Mitsui Banking Corporation (SMBC) announced a successful proof-of-concept (POC) using R3’s Marco Polo trade finance platform. SMBC has been participating in a… read more →

Bank Payment Obligation can act as a gateway for further trade finance technologies, says new Commerzbank whitepaper The whitepaper, “Leading the path of digital evolution” explains how increased market adoption… read more →

The Singapore arm of Standard Chartered announced yesterday the completion of its first blockchain based lend in Singapore, facilitating the shipment of chickpeas from Agrocorp International, based in Australia, to… read more →

Last week HSBC announced that it had settled over three million foreign exchange transactions since the launch of ‘FX Everywhere’ in the last year. A move to orchestrate cross-border FX… read more →

Earlier this week, Ripple announced that Euro Exim Bank, a specialised UK-based trade institution, was the first bank to publically announce that it will be using Ripple’s XRP cryptocurrency to… read more →

This is the term used for the department in a commercial or investment bank where trade transactions (cross border and domestic) are financed. Financing is usually between a supplier and… read more →