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Sberbank joined blockchain-based commodity trade finance platform

September 15, 2020, 18:34 (UTC+3)|

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.

Original (in Russian)



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