The collective, known as India Trade Connect, includes institutions such as Axis Bank, ICICI and South Indian Bank. It was reportedly formed to conduct testing of InfoSys’ Finacle Trade Connect, a blockchain platform designed to “address the trade finance process requirements of banks.”
ICICI senior general manage Ajay Gupta commented:
“With more organisations adopting the blockchain technology, it holds immense potential to offer a seamless network for all stakeholders on a single platform.”
According to the press release, testing by the seven Indian banking institutions is already underway.
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