• Latest
New Zealand’s ASB Bank Takes Stake in Trade Finance Blockchain Startup

New Zealand’s ASB Bank Takes Stake in Trade Finance Blockchain Startup

August 13, 2019
ygg sea surpasses 10,000 scholarships in just six months of launch

YGG SEA Surpasses 10,000 Scholarships in Just Six Months of Launch

May 6, 2022
mintable launches industry changing gas free minting service on ethereum

Mintable Launches Industry Changing Gas Free Minting Service on Ethereum

May 1, 2022
5 projects enabling smart contract development on bitcoin

5 Projects Enabling Smart Contract Development on Bitcoin

April 29, 2022
bitcoin atm installed in mexico's senate building

Bitcoin ATM installed in Mexico’s Senate Building

April 27, 2022
cross chain services play a crucial role in facilitating continued adoption of defi applications

Cross-Chain Services Play a Crucial Role in Facilitating Continued Adoption of DeFi Applications

April 26, 2022
justin sun launches usdd, integrating the blockchain world and the real world with the decentralized stablecoin

Justin Sun Launches USDD, Integrating the Blockchain World and the Real World with the Decentralized Stablecoin

April 25, 2022
nfts: the next musical revolution

NFTs: The Next Musical Revolution

April 24, 2022
things you should know before investing in nfts

Things You Should Know Before Investing in NFTs

April 24, 2022
what are wrapped tokens?

What Are Wrapped Tokens?

April 23, 2022
what is the future of ethereum (eth)?

What is the future of Ethereum (ETH)?

April 22, 2022
green gaming

Everything You Need to Know About Play-to-Earn on Algorand in 2022

April 21, 2022
$ape going bananas as rumors of upcoming land sale of bayc metaverse gather momentum

$APE Going Bananas As Rumors of Upcoming Land Sale of BAYC Metaverse Gather Momentum

April 21, 2022
  • Home
  • Coin Market Cap
  • Bitcoin
  • Ethereum
  • Ripple
  • Litecoin
  • Alt Coin
  • Business
  • Trading
  • Mining
CoinNewsDaily
  • Home
  • Coin Market Cap
  • Bitcoin
  • Ethereum
  • Ripple
  • Litecoin
  • Alt Coin
  • Business
  • Trading
  • Mining
No Result
View All Result
  • Home
  • Coin Market Cap
  • Bitcoin
  • Ethereum
  • Ripple
  • Litecoin
  • Alt Coin
  • Business
  • Trading
  • Mining
No Result
View All Result
CoinNewsDaily
No Result
View All Result
Home Business

New Zealand’s ASB Bank Takes Stake in Trade Finance Blockchain Startup

coinnewsdaily by coinnewsdaily
August 13, 2019
in Business
0
New Zealand’s ASB Bank Takes Stake in Trade Finance Blockchain Startup
190
SHARES
1.5k
VIEWS
Share on FacebookShare on Twitter

Related articles

ygg sea surpasses 10,000 scholarships in just six months of launch

YGG SEA Surpasses 10,000 Scholarships in Just Six Months of Launch

May 6, 2022
5 projects enabling smart contract development on bitcoin

5 Projects Enabling Smart Contract Development on Bitcoin

April 29, 2022

A New Zealand bank has invested a “significant” amount in a startup working to put trade finance on a blockchain.

Announced Tuesday, ABS Bank – an institution owned by the Commonwealth Bank of Australia – said it backed the TradeWindow platform after taking part in a pilot utilizing its tech to carry out a trade between a Korean importer and a New Zealand meat exporter last year.

A.J. Smith, founder and CEO of TradeWindow said the undisclosed investment means his firm is one of the first tech companies in the country to backed directly by a New Zealand bank.

“The decision by ASB to invest in TradeWindow is a great vote of confidence. The bank is committed to accelerating the progress of New Zealand’s trade environment using new technology and recognises the potential our product has to streamline trading between Kiwi exporters and the rest of the world,” Smith said.

The firm said the funding will be used to “fast-track” development of its platform.

TradeWindow uses distributed ledger technology to create a “single trading window” that provides real-time insight into a trade for all participants. Changes to data can only be made “with the consensus of the majority of the network,” the firm said, meaning the risk of fraud and cyberattacks are greatly reduced.

The most immediate benefit for clients, though, according to Smith, is the greater efficiencies and lower costs brought about by the real-time sharing of documentation. Currently, this is “couriered at significant cost” between all trade participants, he said.

As part of the funding deal, Nigel Annett, executive general manager of corporate banking at ASB Bank, will join TradeWindow’s  board.

“What began as collaboration through ASB’s innovation programme to solve a customer problem, is now a fully-fledged business ready to launch,” Annett said.

TradeWindow is said to be finalizing partnerships that will see it acquire two New Zealand-based export companies, as well as having more pilot schemes in the pipeline.

Ship and containers image via Shutterstock

Credit: Source link

Tags: BusinessCryptoCrypto Business
Share76Tweet48
Previous Post

This Crypto Is Worth Less Than 1 Cent. VCs Are Betting Millions on Its Future

Next Post

SEC Guidance Gives Ammo to Lawsuit Claiming XRP Is Unregistered Security

coinnewsdaily

coinnewsdaily

CoinNewsDaily.com is an online Crypto Coin News Website that aims to provide latest trendy news from market and around the world.

Related Posts

ygg sea surpasses 10,000 scholarships in just six months of launch
Alt Coin

YGG SEA Surpasses 10,000 Scholarships in Just Six Months of Launch

May 6, 2022
5 projects enabling smart contract development on bitcoin
Alt Coin

5 Projects Enabling Smart Contract Development on Bitcoin

April 29, 2022
cross chain services play a crucial role in facilitating continued adoption of defi applications
Alt Coin

Cross-Chain Services Play a Crucial Role in Facilitating Continued Adoption of DeFi Applications

April 26, 2022
justin sun launches usdd, integrating the blockchain world and the real world with the decentralized stablecoin
Alt Coin

Justin Sun Launches USDD, Integrating the Blockchain World and the Real World with the Decentralized Stablecoin

April 25, 2022
what are wrapped tokens?
Bitcoin

What Are Wrapped Tokens?

April 23, 2022
what is the future of ethereum (eth)?
Alt Coin

What is the future of Ethereum (ETH)?

April 22, 2022
Load More
Next Post
SEC Guidance Gives Ammo to Lawsuit Claiming XRP Is Unregistered Security

SEC Guidance Gives Ammo to Lawsuit Claiming XRP Is Unregistered Security

Categories

  • Alt Coin
  • Bitcoin
  • Business
  • Ethereum
  • ICO
  • Litecoin
  • Mining
  • NFT
  • Ripple
  • Tech
  • Trading

What New here?

  • YGG SEA Surpasses 10,000 Scholarships in Just Six Months of Launch
  • Mintable Launches Industry Changing Gas Free Minting Service on Ethereum
  • 5 Projects Enabling Smart Contract Development on Bitcoin

Subscribe to Get More!

Loading
  • About Us
  • Contact Us
  • Privacy & Policy

© 2018-2021 CoinNewsDaily.com by CoinNewsDaily Inc. Crafted with Love by iFtiDev

No Result
View All Result
  • Home
  • Coin Market Cap
  • Bitcoin
  • Ethereum
  • Ripple
  • Litecoin
  • Alt Coin
  • Business
  • Trading
  • Mining

© 2018-2021 CoinNewsDaily.com by CoinNewsDaily Inc. Crafted with Love by iFtiDev

  • bitcoinBitcoin(BTC)$23,028.00-0.07%
  • ethereumEthereum(ETH)$1,566.15-1.74%
  • tetherTether(USDT)$1.000.02%
  • binancecoinBNB(BNB)$305.25-0.65%
  • rippleXRP(XRP)$0.409148-0.60%
  • cardanoCardano(ADA)$0.381517-1.34%
  • dogecoinDogecoin(DOGE)$0.0877130.65%
  • matic-networkPolygon(MATIC)$1.14-0.97%
  • okbOKB(OKB)$38.836.98%
  • solanaSolana(SOL)$23.88-1.27%
  • polkadotPolkadot(DOT)$6.35-2.70%
  • shiba-inuShiba Inu(SHIB)$0.0000120.45%
  • litecoinLitecoin(LTC)$88.50-0.46%
  • tronTRON(TRX)$0.063064-0.62%
  • daiDai(DAI)$1.000.00%
  • cosmosCosmos Hub(ATOM)$13.10-0.99%
  • chainlinkChainlink(LINK)$7.17-2.20%
  • leo-tokenLEO Token(LEO)$3.76-2.11%
  • moneroMonero(XMR)$185.333.40%
  • ethereum-classicEthereum Classic(ETC)$21.60-1.33%
  • bitcoin-cashBitcoin Cash(BCH)$131.49-2.08%
  • stellarStellar(XLM)$0.0926550.40%
  • crypto-com-chainCronos(CRO)$0.080987-0.37%
  • filecoinFilecoin(FIL)$5.20-3.14%
  • algorandAlgorand(ALGO)$0.2554251.22%
  • vechainVeChain(VET)$0.024080-3.32%
  • internet-computerInternet Computer(ICP)$5.99-0.58%
  • aaveAave(AAVE)$83.68-2.95%
  • eosEOS(EOS)$1.09-2.14%
  • elrond-erd-2MultiversX(EGLD)$44.34-0.53%
  • theta-tokenTheta Network(THETA)$1.07-4.19%
  • tezosTezos(XTZ)$1.10-0.83%
  • paxos-standardPax Dollar(USDP)$1.00-0.29%
  • bitcoin-cash-svBitcoin SV(BSV)$43.39-1.56%
  • huobi-tokenHuobi(HT)$5.111.29%
  • havvenSynthetix Network(SNX)$2.44-4.20%
  • pancakeswap-tokenPancakeSwap(CAKE)$3.99-0.53%
  • iotaIOTA(MIOTA)$0.236206-2.71%
  • zcashZcash(ZEC)$45.11-2.34%
  • makerMaker(MKR)$648.83-2.70%
  • neoNEO(NEO)$8.17-0.82%
  • dashDash(DASH)$50.48-2.52%
  • zilliqaZilliqa(ZIL)$0.029158-0.29%
  • basic-attention-tokenBasic Attention(BAT)$0.259397-1.65%
  • compound-governance-tokenCompound(COMP)$55.37-4.17%
  • Elrond ERDElrond ERD(ERD)$0.0259290.00%
  • nemNEM(XEM)$0.038543-3.25%
  • kusamaKusama(KSM)$36.030.36%
  • bitcoin-goldBitcoin Gold(BTG)$17.42-0.44%
  • wavesWaves(WAVES)$2.771.20%
  • qtumQtum(QTUM)$2.63-3.12%
  • ftx-tokenFTX(FTT)$1.89-21.50%
  • sushiSushi(SUSHI)$1.28-4.58%
  • golemGolem(GLM)$0.245273-1.68%
  • yearn-financeyearn.finance(YFI)$7,407.93-3.15%
  • omisegoOMG Network(OMG)$1.45-3.26%
  • ontologyOntology(ONT)$0.213777-2.72%
  • digibyteDigiByte(DGB)$0.010616-4.13%
  • umaUMA(UMA)$2.070.53%
  • ethlendAave [OLD](LEND)$0.53-3.08%
  • UniswapUniswap(UNI)$2.4438.80%