Batavia, a blockchain trade finance platform, has successfully completed its first live corporate cross-border transaction. The platform is a joint venture between tech giant IBM and leading banks including Swiss bank UBS, European financial services firm Erste Group, the Spanish CaixaBank, German giant CommerzBank, and Bank of Montreal. This initial transaction saw the platform facilitate the exchange of cars from Germany to Spain and raw materials from Austria to Spain. A Watershed Moment The success of the pilot was an important milestone for Batavia and involved the facilitation of the full trade cycle. In a process that’s powered by smart contracts,Powered by WPeMatico
