ASB Bank, controlled by Commonwealth Bank of Australia, uses blockchain to provide trade finance support

On August 28th, the New Zealand ASB Bank, which is controlled by the Commonwealth Bank of Australia (CBA), launched a single window of trade to improve the trade process. With the launch of the trade window, ASB Bank can now improve trade processes for customers through blockchain technology. Representatives of the bank said that ASB's trade finance blockchain technology window not only helps to shorten the processing time required for New Zealand exporters throughout the trade process, but also helps reduce the risk of fraud and cybersecurity threats.