Saudi Bank of England and HSBC use blockchain technology to finance international trade

According to Tradearabia, Saudi Bank of England (SABB) and HSBC first used blockchain technology in Saudi Arabia and Bahrain to finance international trade. The transaction involved the delivery of homogeneous aluminum billets from Bahrain Aluminium to Saudi Arabian aluminium company Talco, which was issued by Talco on a blockchain-based platform using R3's Corda system.