As part of its digital transformation, BMCE Capital – Investment Banking Division of BANK OF AFRICA – BMCE Group – has launched a pioneering blockchain-based solution for processing over-the-counter transactions on the financial market (monetary transactions , securities lending/borrowing, firm transactions, etc.).
BK TradeChain is a decentralized trading application based on an Ethereum blockchain (operating without cryptocurrencies) and deployed in consortium mode between the entities BMCE Capital Markets, BMCE Capital Gestion and BMCE Capital Solutions. This solution is scalable and will be extendable in the near future, on a voluntary basis, to the internal and external ecosystem of BMCE Capital.
The ‘Smart Contracts’ set up in ‘BK TradeChain’ thus allow operational staff to have faster and more efficient processing of their transactions, for the benefit of their end customers, while improving the consideration of their daily constraints and while maintaining an optimal level of security.
With the launch of BK TradeChain, BMCE Capital continues its long tradition of innovation in the financial market for the benefit of its customers and partners, today by capitalizing on disruptive technologies such as blockchain.