EXPERTISE

Kinstellar advises ČSOB on the launch of we.trade, a blockchain based trade finance platform

May 2020 – Kinstellar has successfully advised ČSOB in connection with its launch of we.trade in the Czech Republic.

Built on the IBM Blockchain Platform and powered by Hyperledger Fabric, the we.trade blockchain platform offers customers access to a simple user-interface, leveraging innovative smart contracts and opens up potential new trading opportunities. It uses blockchain technology to seamlessly connect buyers, sellers, banks and shippers involved in a trade, and to digitalise the whole process from order creation to payment execution. The service thus requires less paperwork and is completely traceable, which makes trading on the platform transparent and immune to fraud.

we.trade is a bank consortium-led initiative and a leader of blockchain based digital trade services. Supported by Europe’s leading financial institutions, the we.trade platform is now available in 14 countries across Europe.

The Kinstellar team consisted of Martina Březinová (Counsel) and Jakub Šťastný (Junior Associate).