This is a preview of an article originally published in Trade Finance Global – read it here.
J.P. Morgan is nearing completion of its first live digital trade finance transaction, following the bank’s collaboration with technology provider Enigio.
The initiative focuses on digitalising bills of exchange for working capital solutions.
J.P. Morgan and Enigio are collaborating to modernise traditional trade finance processes supported by recent legal reforms, such as the Electronic Trade Documents Act (ETDA) in the UK.
The bank has implemented Enigio’s trace:original hybrid blockchain solution as part of its Trade and Working Capital technology infrastructure and its first use case, the electronic bill of exchange. Specific controls address the unique challenges associated with hybrid blockchain technology, particularly regarding data sharing between private and public components.
Read the full article at Trade Finance Global.