Raiffeisenbank, a Russian subsidiary of Austria’s Raiffeisen Bank International (RBI), has developed a corporate blockchain platform, the bank announced in a press release on May 31.
Targeting holding firms, the new blockchain platform claims to automate settlements by corporate clients and enable a trusted network for sharing data between a group of companies, the press release notes. Specifically, the product reportedly automates the process of supply settlements between buyers and suppliers, as well as providing tools for financial management.
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