BNP Paribas collaborates with China’s Ant Group to launch blockchain-powered trade finance platform

September 25, 2020

The platform, known as Trusple, promises to make global trade finance faster, safer and more efficient

Ant Group today announced the launch of Trusple, a digital international trade and financial platform powered by blockchain technology. BNP Paribas, as one of the strategic banking partners of this initiative, will strengthen the access of Small to Medium Enterprises (SMEs) to international trade, and push forward the inspiration of making it easy to do business anywhere.

Ant Group made the announcement at the Blockchain Industry Summit of INCLUSION Fintech Conference in Shanghai.

Paul Yang, Head of Corporate and Institutional Banking for Asia Pacific at BNP Paribas, said: “BNP Paribas is committed to facilitating global digital trade. Being selected as one of the strategic partners of Ant Group, a world-leading technology service provider, marks a significant milestone in our ability to deliver the most advanced technology to our clients and push the boundaries in the financial digital ecosystem connecting China and France.”

“We are committed to developing cross-border financial technology solutions that give business clients the tools they need to thrive in a digital era,” said Mr Yang.

CG Lai, CEO of BNP Paribas (China) Limited, said: “As a leading foreign-invested bank in China, we can draw extensive banking experience from BNP Paribas’ global set-up. Leveraging Ant Group’s innovation and business scale rooted in the China market, our partnership is set to bring value to the real economy and build a better future for all.”

Trusple is designed to make international trade more reliable, more transparent, as well as more efficient for SMEs. Trusple manages orders digitally, doing away with much of the paperwork involved in traditional trade while enabling better shipping management and payment processes. The transparent and traceable nature of blockchain technology ensures the authenticity of entries and order, strengthening record-keeping and risk management for financial institutions and SMEs around the world.

The partnership taps into BNP Paribas’ existing solid financial digital ecosystem, which is underpinned by its extensive global networks and a strong heritage of cross-region financial expertise. The introduction of Trusple is an important step to build France-China trade flows.

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