Mitsui Sumitomo Bank, Japan's third-largest bank, will start using commercialized trade financing blockchain platform by the end of the year

Mitsui Sumitomo Bank (SMBC), Japan's third-largest bank of assets, will begin commercializing R3's Marco Polo trade financing blockchain by the end of this year. The bank said last week that it successfully completed cross-border proof-of-concept testing, including Mitsui & Co., a Japanese trading company, Indorama Ventures, a Thai intermediate petrochemical company, and Bangkok Bank, the third largest bank in Thailand.