UK-based multinational bank Standard Chartered (LON:STAN) has teamed up with Siemens Financial Services, the financing branch of German engineering group Siemens, and blockchain startup TradeIX, according to a Wednesday press release. The banking giant plans to conduct a blockchain trial in the United Arab Emirates (UAE) by developing smart guarantees in trade finance.
Standard Chartered and Siemens started to work on the project in March by using the tools provided by TradeIX, a UK startup that has developed a blockchain-based trade finance platform and provides APIs to integrate its solution into existing systems and applications. The e...
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