As part of its ongoing efforts to offer next-generation trade finance solutions to its clients, Natixis has announced that it has joined the trade finance network Marco Polo.
The platform is intended to facilitate domestic and cross-border trade for small and medium enterprises in Europe and increase overall trade transaction transparency.
All the major steps in a crude oil transaction will be kept on the blockchain, which will allow for more transparency, enhanced security, and efficiency.
Seven large banks are collaborating to make domestic and cross-border commerce easier for European small and medium-sized enterprises.
Thus R3 project has just grown up to 42 members – the world’s largest and most influential banks.