HK blockchain developer for global banks, launches trade finance platform

16 January 2020

On January 6, Hong Kong-based blockchain firm CryptoBLK launched a trial of its open account trade finance solution called the ATLAS Alpha Network with Microsoft as a strategic partner.

Outside of this new venture, CryptoBLK has some serious credentials. It is the developer behind the Letter of Credit blockchain network (formerly Voltron) founded by eight global banks including HSBC, ING and Standard Chartered. Additionally, it counts Thailand’s central bank as a client.

Since the launch of the ATLAS Alpha Network, over 25 organizations including banks, financiers and enterprises, have signed up for the four-week trial to get hands-on experience of CryptoBLK’s ATLAS platform.

CryptoBLK, through ATLAS, is digitizing the end-to-end process of invoice financing, factoring, purchase order financing and pre- or post-shipment financing. Under the four-week trial, participants will undergo training, outline business cases and test the ATLAS platform using real-world scenarios.

 

Read more at Ledger Insights, here.

 

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