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Bank of New York (BNY) Mellon Hopes To Go Live With Trade Finance Blockchain Marco Polo "ASAP"

Ramsey Baker

Summary: Bank of New York (BNY) Mellon has become the 28th bank to join the Marco Polo trade finance consortium running R3’s Corda, according to CoinDesk. BNY Mellon is assessing Marco Polo’s blockchain Technology with the intent of onboarding clients if the blockchains capabilities are right for their clients’ needs. Joon Kim, global head of trade ...

Bank of New York (BNY) Mellon has become the 28th bank to join the Marco Polo trade finance consortium running R3’s Corda, according to CoinDesk.

BNY Mellon is assessing Marco Polo’s blockchain Technology with the intent of onboarding clients if the blockchains capabilities are right for their clients’ needs. Joon Kim, global head of trade finance at BNY Mellon, stated that the hopes of BNY Mellon are to move into live production as soon as possible. Marco Polo was BNY Mellon’s choice because the blockchain works well for open account financing.

By Ramsey Baker

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