Big Brazil Bank Joins Corda Blockchain

written by

Support free journalists: > send a tip

The Banco Bradesco, one of Brazil’s largest banks, has become the latest financial institution to join R3’s Corda enterprise blockchain technology on the Marco Polo network for trade finance.

According to a press release quoted by Cointelegraph, this network will be implementing Corda’s blockchain technology on the TradeIX distributed trade finance platform, translating to lower costs, faster times as well as more transparency compared to the conventional structure of trade finance for commercial banks. It names tech solutions aimed at innovating working capital finance such as APIs and ERP embedded applications

Banco Bradesco reputedly has total assets worth over USD 338 billion and a market capitalization of over USD 49 billion. It now joins other global banks on the network which counts such names as ING, BNP Paribas, Standard Chartered and Sumitomo Mitsui Banking Corporation.

These banks will be experimenting and sharing experience, but are expected to develop their own differentiating solutions on the distributed platforms.

Marco Polo Network MD at its Center of Excellence, Banking and Trade, Daniel Cotti, noted that it was the absence of connectivity that hampered current trade processes, inciting the need for blockchain-based networks. He said that the onboarding of Banco Bradesco was a milestone for Marco Polo, being its pilot in Latin America.


Follow on Twitter: @bitcoinnewscom

Telegram Alerts from

Want to advertise or get published on – View our Media Kit PDF here.

Image Courtesy: Pixabay

Help spread this article :) is NOT INVESTMENT ADVICE

Opinions expressed are entirely their own and do not necessarily reflect those of

For informational purposes only. Individuals and entities should not construe any information on this site as investment, financial, legal, tax, accounting or other advice. Information provided does not constitute a recommendation or endorsement by to buy or sell bitcoin, cryptocurrencies or other financial instruments. Forecasts are inherently limited and cannot be relied upon. Do your own research and consult a professional advisor. The opinion of authors do not reflect those of 


Read More Bitcoin News


Join our Newsletter


Latest on Bitcoin News

Video of the Week

Join our Newsletter