R3 and Infosys complete blockchain trade finance trial - Ledger Insights

Today banking tech firm Infosys announced the completion of a blockchain trade finance trial with R3. The trial involved 18 international banking groups joining the test network of Finacle Trade Connect, available on R3’s Corda. Though Finacle Trade Connect has been around as a trade network since 2017, the trial comprised new blockchain integration with Corda and global participation. Banks included Alfa Bank, along with Axis Bank, Federal Bank, Fidelity Bank, Gulf International, Intesa Sanpaolo, Prime Bank, South Africa’s Standard Bank and RBL. The trial simulated domestic and international trade processes, hoping to test out blockchain’s capability on the platform. After over 400 transactions were made with the Finacle Trade Connect test network over five weeks, participants found that processes were faster, more cost-efficient, and maintained trust and security.

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