Today, Crédit Agricole CIB announced it will start conducting blockchain pilots of the Marco Polo trade finance network. The announcement confirms the French bank’s involvement with the Marco Polo network after it quietly appeared on the member list last November. The bank described 2019 as an evaluation period.
“We’re very pleased about this great opportunity with Marco Polo. It is an innovative network that brings together corporates, financial institutions, supply chain stakeholders and software providers, to build the future of international trade and transaction banking,” said Laurent Chenain, Global Head of International Trade & Transaction Banking at Crédit Agricole CIB.
Paris-based Crédit Agricole is the world’s largest cooperative financial institution and offers banking and insurance services through several subsidiaries. In 2019, the bank had total assets of €2.01 trillion ($2.3 trillion).
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