Sberbank, represented by its subsidiary Sberbank (Switzerland) AG, became the first Russian bank to join the Komgo blockchain-based commodity trading finance platform.
Komgo is based on blockchain technology, which allows members to quickly exchange data in a digital, secure and decentralized way. The platform implements a wide range of solutions that simplify interaction between participants in trade finance.
Sberbank noted that commodities trade finance is one of the strategic business areas of Sberbank (Switzerland) AG. For 8 months of this year, this structure has financed the supply of more than 15 million tons of goods worth over $5 billion.