Industry players and banks join forces to launch blockchain platform to transform commodities trade finance
(WorldNews Netherlands)

19 September 2018 Fifteen of the world`s largest institutions, including banks, trading companies, an inspection company1 and an energy major have formed a new venture known as komgo SA, that will seek to digitalise the trade and commodities finance sector through a blockchain based open platform. The founders of this new company, managed and operated as an independent entity, include companies from: ABN AMRO, BNP Paribas, Citi, Crédit Agricole Group, Gunvor, ING, Koch Supply & Trading, Macquarie, Mercuria, MUFG Bank, Natixis, Rabobank, Shell, SGS and Societe Generale. `The launch of komgo SA highlights a shared vision for industry innovation and underlines the ongoing commitment among...