ADCB: Joins UAE trade finance blockchain consortium
- ADCB joined its group of top UAE banks to use their Blockchain platform to help reduce the risk of trade finance
- UTC is the blockchain technology platform that fintech companies use, and enterprises previously called Etisalat Group
- UTC’s award-winning platform has the potential to be the country’s leading trade finance platform and is in the process of expanding its capabilities
- The signing ceremony took place in the office of e& enterprise in Dubai and was attended by top management from both organizations.
- UTC blockchain technology will serve as a major bank enabler to boost the number of loans they offer SMEs
- Each member bank of the consortium plays an active and equal part in the steering.
- The governance of the UTC platform.
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