eTradeConnect
eTradeConnect is an innovative platform facilitated by the Hong Kong Monetary Authority and Hong Kong Trade Finance Platform Co., Ltd., and jointly launched by BEA along with 6 other international banks in Hong Kong. It uses distributed ledger technology (DLT) to raise trade finance services to a new level of accessibility and efficiency – streamlining operational flows, simplifying documentation requirements, reducing risks, and enhancing security.
Key Features
- Connects trade finance stakeholders
- Provides a marketplace for cross-industry and cross-border trades
- Enables users to verify trade documents and provides real-time updates
- Processes online requests for trade financing
- Performs automatic reconciliation
Value to buyers and sellers
- Identity validation
- Digitalised trade flows
- Reduced cost of transacting business
- Easier financing with higher trust level
- More transparent loan information
To connect to the eTradeConnect platform, please click here.