First Turkish-German trade finance transaction on Marco Polo blockchain network with İşbank and Commerzbank more
(WorldNews Germany)

June 03, 2020 First Turkish-German trade finance transaction on Marco Polo blockchain network with İşbank and Commerzbank • In cooperation with Commerzbank, İşbank is first bank in Turkey to use blockchain technology on trade finance transaction • Automatic matching of trade data-based on DLT provides irrevocable payment commitment, which not only serves as risk mitigation instrument, but also provides financing İşbank and Commerzbank have jointly run an international trade finance transaction based on distributed ledger technology (DLT). Payments were secured by digitally processing the related data transfer via Corda blockchain technology on the Marco Polo trade finance network. İşbank is...