ASB: Invests in TradeWindow

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ASB: Invests in TradeWindow

Auckland Saving Bank (ASB): New Zealand Bank, invested in a Auckland blockchain start-up TradeWindow

  • The startup will fast-track the one-year-old company’s Distributed Ledger Technology (DLT) trade platform
  • TradeWindow, one of the first times a technology company has received direct funding from a NZ Bank
  • The investment will enable to release the first commercial version of its DLT platform very shortly
  • The technology creates a “single trading window” which all parties can access during the transaction
  • It reducing the risk of fraud of cyber-security threats because edits can only made when a majority of the network agrees
  • Platform allows all relevant documents – from certificates to invoices – to exchange digitally using one touchpoint