Skuchain and Mitsubishi subsidiary cooperate to launch blockchain precious metals trading platform ECO

Blockchain solution provider Skuchain and Mitsubishi Corporation RtM Japan Co., Ltd., a metal and mining trading subsidiary of Mitsubishi UFJ Financial Group, have reached a partnership to jointly launch an ECO platform that supports precious metal transactions. The ECO platform is supported by Skuchain’s blockchain-based supply chain management and financial platform EC3. ECO facilitates trade verification by generating, managing and executing invoices between counterparties. In the precious metals industry, suppliers, traders, and customers independently manage information about transactions and commodities, so the goal of ECO is to securely share this information among industry participants and eliminate redundant operations.