British bank HSBC said Sunday it has completed what it says is the world’s first commercially viable trade-finance transaction using blockchain, according to the Financial Times.
HSBC said the blockchain trade, which processed a letter of credit for U.S. food and agricultural group Cargill, had shown the platform is ready to be commercially adopted across the industry. The transaction involved a shipment of soybeans from Argentina to Malaysia last week. HSBC used the Corda blockchain platform developed by technology consortium R3. Read more here.