Blockchain for finance is ‘a decade away’

By Yolanda Bobeldijk Despite the “hype” around banks’ development of distributed-ledger technology – known as blockchain – it will take at least 10 years for it to transform financial services. That is according to Veronica Lange, the head of innovation at UBS. Speaking during a panel discussion at the Innovate Finance Global Summit on April 10 she…

UK pledges to double export finance to support trade with Qatar – minister

Britain will double the amount of export finance available to support trade with Qatar to 4.5 billion pounds, trade minister Liam Fox said on Monday. “No trade between the UK and Qatar should fail for lack of finance and insurance, that is why the UK government … can give buyers and sponsors in Qatar attractive…

IBM Unveils Blockchain Platform for Oil Trade Finance

Stan Higgins (@mpmcsweeney) A group of companies including IBM has spearheaded the development of a new blockchain-based crude oil trade finance platform. Along with IBM, commodities trading group Trafigura and corporate investment bank Natixis took part in the creation of the platform, built using code from the Linux Foundation-led Hyperledger project. IBM’s BlueMix cloud hosting…

AfDB approves $450m trade finance package for Afreximbank

The package aims to boost intra-African trade and promote regional integration The board of directors of the African Development Bank (AfDB) has approved a $450m trade finance package for the African Export–Import Bank (Afreximbank) on Wednesday, according to a press statement from Friday. The statement said that the facility consists of a three-year $150m unfunded…

Deutsche Bank Aquire TrustBills With Focus on Trade Finance

Deutsche Bank revealed Wednesday (April 5) the acquisition of 12.5 percent in FinTech company TrustBills. The Germany-based company specializes in online receivables auctions, facilitating the selling of national and international trade receivables, reports said. According to Deutsche Bank, the takeover is part of broader efforts to strengthen its trade finance position. “Advancements in technology will…

MICROCAPITAL BRIEF: TriLinc Approves $36.8m in Term Loans, Trade Finance for SMEs in Africa, Latin America, Southeast Asia

TriLinc Global Impact Fund (TriLinc) recently announced that it has approved USD 36.8 million to fund term loans and trade finance transactions for small and medium-sized enterprises (SMEs) that operate in Africa, Latin America and Southeast Asia. The term loans will be disbursed to 10 different companies with interest rates ranging from 7.5 percent to…

Russian bankers to discuss blockchain application on April 19

On April 19, Moscow will host a session dedicated to the application of blockchain technologies in the banking sector within annual Blockchain & Bitcoin Conference Russia. It will engage representatives of Sberbank, Alfa Bank and other companies, actively implementing blockchain in business processes. Why Russian bankers are interested in blockchain Early in the year, it…

IMF urges G20 co-operation over trade

The International Monetary Fund has called on the Group of 20 major economies to work together to preserve the benefits of trade and avoid protectionism, while also urging them to reduce external imbalances and halt policies that distort global trade. Under pressure from rising protectionist sentiment in many advanced economies, including the United States, the…

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