BETTING ON BLOCKCHAIN: Rabobank, Concord, PGS developing blockchain trading platform for metal repo financing

摘要

Dutch bank Rabobank, international trading firm Concord Resources and warehousing firm PGS are developing a blockchain trading platform for the metal repo financing business, the companies said.The parties signed a letter of intent and have already started developing the system, known as Beyond Commodities. Its goal is to drive efficiencies, traceability and transparency in metals trading - specifically in the repo financing business.