Commerzbank and Bangkok Bank have jointly run an international trade transaction based on Distributed Ledger Technology (DLT), the first Europe-to-Asia trade transaction completed on the Marco Polo network.
The transaction comprised the supply of glass tubes from German specialty glass manufacturer Schott to Thai packaging manufacturer A.P.A. Industries, with the entire flow of information mapped via R3’s Corda DLT platform. All parties involved were able to communicate and view trading data simultaneously via specially set up digital nodes.
Enno-Burghard Weitzel, head of product management trade services at Commerzbank AG, says, “We are happy to be one of the drivers to develop this digital solution for trade finance and to support clients with our expertise.”
Following outreach by Moorgate, the news was covered by: Finextra, Fintech Finance, TRF News (behind paywall), TXF News (behind paywall), IJGlobal (behind paywall), Global Trade Review, Der Treasurer, The Paypers, Tokenpost, Block Tribune, and Fintech Insight.
Commerzbank and Landesbank Baden-Württemberg (LBBW) have recently – for the first time – successfully executed the necessary data transfers to complete two commercial transactions via blockchain-based trade finance network Marco Polo.
“The transaction proves that blockchain technology offers our clients state-of-the-art financing for trade transactions,” says Nikolaus Giesbert, divisional board member for Trade Finance & Cash Management at Commerzbank. “We see a valuable opportunity here to work together to develop and bring to the market innovative trade finance solutions.”
News of the transaction was covered by: Banking Technology, Bitcoin Exchange Guide, BlockTribune, CMTFile, Coin Speaker, Coin Telegraph, CoinDesk, Der Treasurer, Disruption Banking, Financialit, FinExtra, Fintech Finance, FinTech Futures, Global Treasurer, Global Trade Review, Ledger Insight, The Paypers, TokenPost, Trade Finance Global, TRF News, TXF, TXF tracker (behind paywall), & Yahoo
Writing for TMI, David Bee, Head of Global Markets at Crown Agents Bank, highlights the benefits of new and innovative technology to financial services in Nigeria – and the potential benefits for corporate treasurers. Please read the full article here.
As the appetite for foreign direct investment (FDI) in Africa intensifies, currency illiquidity and volatility stand as potential barriers to growth. In an article for The Global Treasurer, David Bee, Head of Global Markets at Crown Agents Bank, explores how new, innovative technologies – such as EMpowerFX – can begin to offset Africa’s currency concerns.
Please click here to read the full article.
In an article for the World Bank, David Bee, Head of Global Markets at Crown Agents Bank, explains that the answer to solving Africa’s currency illiquidity problems can be found in innovative, online trading technologies.
Please click here to read the full article.
Crown Agents Bank’s new video made its debut at the Treasurers Roundtable Annual Conference in Washington DC last week.
Moorgate was involved in all stages of the production.
The first such transaction involving a large German company, Commerzbank’s €500,000 deal was covered by Reuters, Banking Technology, The Trade, IBS Intelligence, coindesk, 4-traders, Blockchain News, The Blockchain, CoinShot, Blockshapers, The Paypers, Cypto Currency News, RTT News, coinzdaily, Econotimes Blockchain Revolution, Cryptocy News, Bitnews Today, Coin Telegraph, cryptovest, Finextra and Profit & Loss.
In its latest move towards digitalisation, Crown Agents Bank, the global wholesale bank for emerging markets, has partnered with online trading platform 360T.
“We can now offer a faster and more efficient service for all our customers who use 360T,” says David Bee, Head of Global Markets. “And for potential customers looking for illiquid, hard-to-access currencies – from the Belize dollar and Ethiopian birr, to the Nepalese rupee, XAF, XOF and the Zambian kwacha – we can offer very competitive pricing.”
The news was covered by FTSE Global Markets, Global Banking & Finance Review, EUBankers and Profit & Loss.
The launch of Crown Agents Bank’s web-based FX trading platform, EMpowerFX, was covered in the magazine’s first edition of the year. Key features of the tool include real-time streaming access to competitive market pricing and immediate tailored request-for quotation (RFQ) facilities for well in excess of 500 emerging and major traded currency pairs.
Read more in e-Forex online here or on page 16 of the magazine here.
EMpowerFX provides clients with direct access to real time quotes for well in excess of 500 emerging and developed-market currency pairs. The platform’s launch was covered across the specialist financial and foreign exchange press, including FX-Week, Forex News, Treasury Today, Profit & Loss, COVER South Africa, Institutional Asset Manager, Modern Ghana, FTSE Global Markets, Global Banking and Finance Review, Banking Technology, and Caribbean News Now.