Today Singapore headquartered Contour announced the addition of Commerzbank to its blockchain trade finance network, bringing the member count to 17 banks. The network digitizes Letters of Credit.
While Contour already had coverage in Germany through member banks BNP Paribas, HSCB, SEB, and Standard Chartered, it didn’t have a domestic German bank until now.
Commerzbank has been one of the leaders in another blockchain trade finance network Marco Polo, which like Contour, also uses the Corda enterprise blockchain. By joining the Contour network, the bank will support digital Letters of Credit for Singapore and Germany.
Article continues …
Want the full story? Pro subscribers get complete articles, exclusive industry analysis, and early access to legislative updates that keep you ahead of the competition. Join the professionals who are choosing deeper insights over surface level news.
