BRIEF-Nordea joins blockchain-based trade finance platform as founding partner

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Dec 5 (Reuters) – Nordea Bank AB:

* NORDEA JOINS FIRST BLOCKCHAIN-BASED TRADE FINANCE PLATFORM AS FOUNDING PARTNER

* SAYS IN ENTERING THE WE.TRADE INITIATIVE, NORDEA JOINS BANCO SANTANDER, DEUTSCHE BANK, HSBC, KBC, NATIXIS, RABOBANK, SOCIÉTÉ GÉNÉRALE AND UNICREDIT AS A FOUNDER MEMBER OF THE CONSORTIUM AND EXTENDING ITS GEOGRAPHICAL COVERAGE INTO THE NORDIC MARKETS

* CONSORTIUM IS, IN CONJUNCTION WITH IBM, DEVELOPING A PLATFORM BASED ON DISTRIBUTED LEDGER TECHNOLOGY (DLT) THAT AIMS AT MAKING DOMESTIC AND CROSS-BORDER COMMERCE EASIER, SAFER AND MORE EFFICIENT FOR COMPANIES

* THE COMMERCIALISATION OF THE PLATFORM IS ANTICIPATED IN Q2 2018, WHILE IT IS EXPECTED THAT TEST CUSTOMERS OF THE FOUNDING BANKS WILL USE THE PLATFORM EARLIER Source text for Eikon: Further company coverage: (Stockholm Newsroom)

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