Skip to content

Gazprombank joins Komgo blockchain platform for commodity trade finance

Gazprombank (Switzerland) Ltd. is committed to offer continuous financial innovation to its clients, and the partnership with Komgo marks another step forward in the Bank`s digitalization strategy.

“Despite the current turbulent times, commodity trade finance is a strategic focus for our Bank. COVID-19 crisis had exposed certain systemic deficiencies in the trade finance fabric and highlighted a need to re-build trust between market participants. With Komgo as our strategic partner, we continue to pursue our goals to improve efficiency and security – both for our clients and us. Blockchain technology has significant potential to change the way inter-national trade is conducted and our Bank strives to be at the forefront of this industry’s innovation” – Mr. Abdulin, CEO of Gazprombank (Switzerland) Ltd, commented.

Komgo is a blockchain technology based platform that provides solutions to enable its participants to exchange data in a digital and decentralized format. The platform provides a wide range of solutions that improves speed, efficiency and security of trade transactions between participants. The blockchain technology further allows stakeholders to manage and monitor deals in real time, boosting up transparency of trade operations.

Read the full Press Release