Standard Chartered Completed a Letter of Credit Transaction on the Voltron Blockchain Trade Platform
- Standard Chartered used the Voltron blockchain platform to digitise and simplify the exchange of information between all participants.
- A Letter of Credit transaction usually takes up to 5 days to complete, but using blockchain technology it took less than 12 hours.
- The General Manager of the Bank for International Settlements has said that BIS is supporting the world's central banks in their efforts of researching and developing digital currencies.
- A recent report from the International Monetary Fund shows that several central banks are already considering implementing some form of Central Bank Digital Currency (CBDC).
- J.P. Morgan Chase will reportedly start trials of its "JPM Coin" with several of its corporate clients, which remain unnamed.
- The "JPM Coin" was revealed in mid February, with the coin being presented as a stablecoin tethered to the U.S. dollar.
Japan's largest financial group and the world's fifth largest bank, Mitsubishi UFJ Financial Group (MUFG), will be...