Danske Bank Joins Blockchain-Based Network Of Trade Finance Marco Polo

Danske Bank, the largest Bank of Denmark, announced Monday that he joined the blockchain network, Marco Polo, global trade Finance platform and network, headed by R3 and TradeIX. Platform aimed at banks and uses technology provided by TradeIX. It offers ERP-embedded applications for working capital financing to its corporate clients. In addition to the blockchain technology offered by TradeIX, Marco Polo network uses open API and R3 Corda blockchain platform.

The main goal of the Marco Polo Network is to help banking platforms ensure smooth and fast communication with their corporate clients through the use of enterprise resource planning applications for trading and working capital financing.

The ecosystem has a number of advantages for financial institutions as it can reduce transaction costs and risks associated with the provision of trade and working capital services. The network can also increase the chances of generating revenue by effectively linking banking firms to their corporate clients.