R3's trade finance platform Marco Polo got status "Pilot"

The platform addresses risk mitigation, payables finance and receivables finance
21 February 2018   245

Today R3 announced that with trade finance tech provider TradeIX and several major banks it moved the trade finance solution Marco Polo into 'pilot' stage. The project has the purpose of providing an open source inter-operable trade finance network. The developed in result solution is to be built with R3's Corda (distributed ledger technology product) and released with TradeIX's open platform TIX. As outlined earlier, the project at this stage addresses 3 areas of finance: risk mitigation, payables and receivables finance.

Last September R3 started proof-of-concept development, and today's announcement signalized the success of the process. The development was done in collaboration with BNP, Commerzbank and ING.

The tests ING ran as part of the proof-of-concept enabled us to see the value this solution could deliver in three separate areas of trade financing. The technology ran fast and smoothly and the positive results showed us we are on the right track and ready to take the next step by entering into a pilot.


Ivar Wiersma

Head of innovation, ING Wholesale Banking

Further expansion of the project is set to take place this year with the addition of credit insurers, enterprise resource planning and logistics providers. On a side note, R3 is already working with Microsoft with the integration of Azure cloud solution with aforementioned Corda.

Traditional paper processing across supply chain processes is a "significant burden" to businesses. The industry has been looking for solutions to simplify and digitize trade, making supply chain ripe for the benefits of blockchain technology.


Connie Leung

Senior director and financial services business lead, Microsoft Asia

Qvolta is launching its platform

Qvolta announced its platform release date of April 2 that will feature a full-fledged version of a web platform
24 March 2018   40

Qvolta platform has set its release date to April 2. The release is in accordance with the roadmap of the platform and will include a fully functional version of the web platform. The developers team is currently performing various tests and making final amendments to ensure the proper functionality. This desktop client is in alpha stage. A mobile app for secure authorizations is out and it is the native solution for security without intermediaries.

Qvolta is a P2P exchange platform solution that focuses on the capability of trading Bitcoin and Ethereum for fiat currencies and vice versa. And such functionality is provided through local payment methods. Since centralized exchanges become the target of serious scrutiny of regulators, cryptocurrency platforms that allow trading P2P or in fully decentralized fashion are getting more necessary.

As of the moment of the publication, the market parameters of Qvolta are as follows:

Average price: $0.390836

Market cap: $2,712,466

Volume (24h): $6,171