Hong kong trade finance platform

Hong Kong’s first large-scale multi-bank blockchain project involved in trade finance is collaborating with a peer platform in Europe to encourage trade finance transactions. The Hong Kong Monetary Authority announced on Wednesday the launch of eTradeConnect and its collaboration with we.trade. A blockchain-backed trade finance platform is getting ready to be launched by the Hong Kong Monetary Authority and partners.The system currently stands as one of the largest examples of a government-backed effort to tackle issues in the worldwide trade finance industry. Hong Kong Trade Finance To Fight Fraud With Blockchain-Based Platform The Hong Kong Monetary Authority (HKMA) has partnered with Chinese Ping An to release a blockchain-based trade finance platform. The joint effort is expected to speed-up the process and prevent fraud.

18 Jul 2018 A blockchain-backed trade finance platform is getting ready to be launched by the Hong Kong Monetary Authority and partners. The Hong Kong Monetary Authority is Hong Kong's currency board and de facto central bank. It is a government authority founded on 1 April 1993 when the Office of the Exchange Fund and the Office of the Commissioner of Banking merged. The organisation reports directly to the Financial Secretary. The second factor is the scarce political clout of the trade unions, which  26 Jul 2018 Banks have confirmed their plans to bring Hong Kong's blockchain-based platform for trade finance to fruition, as reported by GTR in June. 15 Nov 2017 Singapore and Hong Kong launch a joint project on cross-border trade and trade finance platform. HKMA MAS Logos. Singapore, 15  2 Nov 2018 A new Hong Kong-based blockchain trade finance platform has just launched this week that was developed by twelve major global banks,  25 Oct 2017 Called the Hong Kong Trade Finance Platform (HKTFP), the system allows to digitalize and share trade documents, automate processes and  17 Jul 2018 The platform will be one of the largest examples globally of a government-led, cross-bank effort to reform the multi-billion dollar trade finance 

Hong Kong’s monetary authority unveils trade finance platform based on blockchain technology. Hong Kong appears set to burnish its credentials as a global trading hub, with its development of a proof-of-concept distributed ledger platform for trade finance using Blockchain technology.

4 Dec 2019 However, since Hong Kong's Securities and Futures Commission (SFC) does not require trade finance providers to be directly monitored, why did  31 Oct 2018 Formerly known as the Hong Kong Trade Finance Platform, eTradeConnect aims to improve trade efficiency, build better trust among trade  31 Oct 2018 The Hong Kong Monetary Authority (HKMA) has announced the official launch of a blockchain-based trade finance platform developed by a  5 Nov 2019 HONG KONG and SAN JOSE, Calif., Nov. It is currently operated by the Hong Kong Trade Finance Platform Company Limited, a group 

HONG KONG (Reuters) - Hong Kong’s banking regulator and seven banks, including HSBC Holdings PLC and Standard Chartered PLC , on Tuesday said they will jointly launch a trade finance platform in

2 Nov 2018 A new Hong Kong-based blockchain trade finance platform has just launched this week that was developed by twelve major global banks,  25 Oct 2017 Called the Hong Kong Trade Finance Platform (HKTFP), the system allows to digitalize and share trade documents, automate processes and  17 Jul 2018 The platform will be one of the largest examples globally of a government-led, cross-bank effort to reform the multi-billion dollar trade finance  The GTCN itself, meanwhile, is expected to go live by early 2019. That will coincide with the planned go-live dates of the Hong Kong Trade Finance Platform and  23 Aug 2018 HKTFP (Hong Kong Trade Finance Platform). What is it: A venture led by the Hong Kong Monetary Authority (HKMA) with technology support  16 Jul 2018 Hong Kong's central bank rolls out blockchain-based trade finance The platform will be owned by the banks that have partnered with the 

26 Jul 2018 Banks have confirmed their plans to bring Hong Kong's blockchain-based platform for trade finance to fruition, as reported by GTR in June.

26 Aug 2019 trade, a European blockchain-based trade finance platform, to conduct a PoC on connecting the two platforms. eTradeConnect. This video gives  31 Oct 2018 Formerly known as the Hong Kong Trade Finance Platform, eTradeConnect aims to improve trade efficiency, build better trust among trade  5 Mar 2020 A blockchain trade finance platform developed by eight banks, including HSBC and Standard Chartered, is getting ready for commercial  31 Oct 2018 Hong Kong Monetary Authority (HKMA) launched its new blockchain-based banking trade finance platform on Wednesday, in the de facto  The Hong Kong Monetary Authority HSBC, Standard Chartered are preparing to launch the blockchain Hong Kong Trade Finance platform in September. 31 Oct 2018 A new blockchain-based trade finance platform, developed by HSBC , Standard Chartered and 10 other banks, was launched in Hong Kong on 

17 Jul 2018 The platform will be one of the largest examples globally of a government-led, cross-bank effort to reform the multi-billion dollar trade finance 

Trade Finance Global was established to help provide trade information and help signpost businesses to find the most appropriate form of funding. We have an established network of non-bank and bank funders, partners and support structures which can assist you in structuring a successful trade deal. Today the Hong Kong Monetary Authority (HKMA) announced the official launch of its blockchain trade finance platform eTradeConnect.It was previously known as the Hong Kong Trade Finance Platform.There are also plans to collaborate with we.trade which until now has focused on Europe.. The platform involves digitizing trade documents to automate the trade finance process.

Singapore bank DBS is one of the institutions involved in the trade finance platform in its home country, as well as the development of the bilateral GTCN between Singapore and Hong Kong. Head of global transaction services for the Hong Kong branch of the bank, Sohfern Boey, The blockchain based Hong Kong Trade Finance Platform will launch in September. The announcement came from the Hong Kong Monetary Authority (HKMA), Standard Chartered, HSBC, and five other banks. The platform follows a trade finance proof of concept (PoC) initiated in December 2016 and completed in March last year. The Hong Kong Monetary Authority (HKMA) together with banks including HSBC Holdings PLC and Standard Chartered PLC tested late in 2016 the use of distributed ledger technology (DLT), also known as The Hong Kong trade finance platform is one of its biggest ventures outside mainland China. Get alerts on Blockchain when a new story is published Get alerts “This trade finance platform is the first large-scale multi-bank blockchain project in Hong Kong arising from the fruitful results of one of the HKMA’s proof-of-concept works on trade finance in 2017,” said Howard Lee, deputy chief executive of the HKMA.