ING, Shell, ABN AMRO, Citi, BNP Paribas, and 10 Others Form New Blockchain Venture
Cryptovest
Published Sep 19, 2018 04:25PM ET
Updated Sep 19, 2018 05:41PM ET
ING, Shell, ABN AMRO, Citi, BNP Paribas, and 10 Others Form New Blockchain Venture
Fifteen global banks, trading firms, and an inspection company launched on Wednesday a new venture under the brand komgo SA. The new entity, headquartered in Geneva, Switzerland, will develop a blockchain-based open platform to digitalize the trade and commodity market. The list of founders includes ABN AMRO (AS:ABNd), Citi, BNP Paribas (PA:BNPP), Crédit Agricole Group, Societe Generale (PA:SOGN), ING, Shell (LON:RDSa), Gunvor, Koch Supply & Trading, Macquarie, Mercuria, MUFG Bank, Natixis, Rabobank, and SGS. The venture plans to launch the platform by the end of this year.
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