Austrian Raiffeisen Bank International (RBI) joined the blockchain trading finance platform Marco Polo.
According to representatives of the Irish technology company TradeIX, which developed the blockchain platform in conjunction with the R3 consortium, it can be used for discounting receivables, factoring and granting payment obligations.
In addition, from 2019, the bank intends to use it to approve the financing of payables and the provision of bank guarantees.
“Joining the Marco Polo platform will expand the range of our products and services, improve customer service, reduce the time required to consider cash withdrawals, and modernize banking processes,” Martina Zimmerl, head of trade finance at Raiffeisen Bank International, said.
Corporate clients of the bank have access to an enterprise resource planning (ERP) service, thanks to which they connect to a single interface to access the interbank network. Marco Polo can interact with Microsoft Dynamics 365, Xero and Oracle Netsuite ERP systems. The software was developed by TradeIX based on the R3 blockchain.
“With Raiffeisen Bank International joining the Marco Polo network, we expect to expand our presence. We are striving to turn the blockchain platform into the main network of trade finance in Europe,” Daniel Cotti, representing TradeIX, said.
Alfa Bank, Anglo Gulf Trade Bank, Bangkok Bank, Bayern LB, BNP Paribas, Commerzbank, Danske Bank, DNB, Helaba, ING, LBBW, Natixis, Natwest, OP, SMBC, S-Servicepartner and Standard Chartered are also participants in the Marco Polo project.
Now, let's move to the technical analysis of Bitcoin (BTC):
Over the past day, bitcoin rose to the support level of $6,322. We expect further technical correction downwards, the nearest target is $5,800. The nearest resistance levels are $6,322, $6,660. The nearest support levels are $6,220, $6,050.
Technical analysis of Ethereum (ETH):
Over the past day, the price of ethereum increased significantly, broke through the resistance levels of $168, $172 and reached $175. Now, the price of ethereum is $170. We expect the continuation of the downward correction to the support level of $168. The nearest resistance levels are $174, $177. The nearest support levels are $168, $165.
Technical analysis of Ripple (XRP):
Over the past day, ripple grew, reaching a support level of $0.2980. This growth coincided with our previous forecast. In the future, we expect the continuation of the uptrend. The nearest resistance levels are $0.2940, $0.2990, $0.30, $0.3080. The nearest support levels are $0.2910, $0.2890.