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January 6, 2020

CaixaBank Adds Blockchain Platform we.trade to its Corporate Services

CaixaBank has added the Blockchain enabled foreign trade platform, we.trade, to its service catalogue.

The platform offers speed, simplicity and security for all parties in foreign trade transactions. It has been developed by a consortium comprising 15 European financial institutions, and it allows importers and exporters to conduct their trading operations in a digital format in a simple and user-friendly way.

we.trade is Europe's first blockchain enabled foreign trade platform, and its goal is to increase the security and traceability of national and international trading transactions. The solution provides real-time monitoring of transactions, which increases transparency throughout the process.

The we.trade platform generates smart contracts that link the trading operation with the financing or payment, and with the fulfilment of the trading conditions. This prevents default risk for companies. The service also streamlines the transaction process for suppliers and buyers on a single shared platform, improving their management.


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