News Snapshot:
Standard Chartered has made a milestone by completing its first cross-blockchain trade finance pilot transaction between Hong Kong and China. Boosting regional trade The blockchain-based transaction capitalized on the connectivity established between Hong Kong’s eTradeConnect and People’s Bank of China Trade Finance Platform (PBCTFP). eTradeConnect is a DLT-enabled platform whose founding members include Standard Chartered Hong Kong, which assists trading partners and customers to undertake trade and trade financing cost-efficiently. By leveraging cross-blockchain trade transactions, Standard Chartered Hong Kong plans to eliminate a lot of manual paperwork involved in trade and trade finance transactions that could take days or even...