Awards for Excellence 2019
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Across the world, small and medium-sized enterprises have historically struggled to get financing for efficient solutions for trade operations. Addressing this need is at the top of many SMEs’ concerns.
This year, HSBC was central to one of the most innovative plans to tackle this issue: we.trade. The blockchain-based trade-finance platform completed its first round of transactions in July, executed via HSBC and three other banks.
The trades were typically for less than £50,000 and were made by unidentified European companies from the manufacturing, food, components and residential building sectors.
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