IBM, which is called the “blue giant,” is among the companies that are strongly present in the world of blockchain.

recently done Advertising About IBM’s investment in the we.trade blockchain platform, and accordingly, the cooperation will bring with it many improvements to the we.trade platform, which already has 12 shareholders other than the newly joined “IBM” company.

According to the announcement, as of July 2020, We.trade will expand its services to more banks and clients across Europe before expanding the network globally, starting in Asia.

Work will continue by we.trade and its contributors to assist and enable we.trade to interact with other blockchain-based trade finance networks, such as the work already done with “eTradeConnect” which is a Hong Kong-based blockchain-based trade finance platform of 12 banks Asian.

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For your information, we.trade supports some of the best global banks including:

CaixaBank, Deutsche Bank, Erste Group, HSBC, KBC, Nordea, Rabobank Santander, Société Générale, UBS and UniCredit.

We.trade aims to connect buyers, sellers, banks, insurance companies and logistics organizations in a network to simplify cross-border trade. We.trade automates many trade finance related processes, as well as providing traders with access to insurance, credit rating and logistics services.

Once in the network, traders can initiate orders and manage the order-to-pay and get funding process.

Also among the goals of we.trade is to improve the lending process for trade finance, support businesses as they grow their businesses and expand into new markets.

Over the past few months, We.trade has seen continued momentum as companies move to replace paper-based trade finance operations with a digital solution.

Jason Kelly, head of blockchain technology at IBM, commented:

The strategic direction of we.trade and IBM focuses on driving growth and transparency across the entire trading ecosystem, collaborating to enhance the influence of the blockchain network, and expanding access to trade finance and other services to the marketplace.

Innovative technology and new pricing structures will help more banks align with internal production controls using their choice of cloud services.

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At the same time, We.trade aims to help banks create new reliable trade corridors and expand markets by connecting with other regional trade service platforms.

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