U.S. Bank completes first fully digital trade finance transaction 

Approach aims to streamline trade and working capital by reducing reliance on paper documents and manual workflows

MINNEAPOLIS – U.S. Bank has completed its first trade finance collection transaction using a fully digital process, marking a step forward in the bank’s efforts to modernize trade and working capital services for clients. U.S. Bank is the first American bank to utilize the blockchain-based WaveBL platform, which supports encrypted document transfers between trading partners and their banks. 

“Our clients are looking for smarter, more efficient ways to manage their import and export activities,” said Christine Bravo, Senior Vice President, U.S. Bank. “This fully digital process is a step toward delivering the speed, transparency and reliability businesses need in today’s trade environment.”

In this transaction, U.S. Bank served as the presenting bank for the exporter, a large U.S.-based publicly traded firm. Container shipping company MSC Mediterranean Shipping Company issued the electronic bill of lading and facilitated the shipment. 

Previously, a transaction like this would have required a courier to physically transport documents across continents, often taking several days. By contrast, the digital process reduced that timeline to minutes–eliminating delays, enhancing security and compliance, and avoiding disruptions from weather, pandemics, or geopolitical events. The DCSA, which includes nine of the world’s ten largest container lines, has committed to issuing 100% electronic bills of lading by 2030.

"We're excited to see such established institutions adopting WaveBL’s digital platform," said Ofer Ein Bar, VP Financial Institutions at WaveBL. "Having such partners brings us closer to achieving our mission to provide practical solutions that streamline trade finance transactions and enable meaningful industry advancements. This is only the beginning."

The shift toward digital documentation in trade and working capital is accelerating as businesses look to cut costs, reduce delays and enhance transparency. This initiative demonstrates how digital tools can streamline import and export trade transactions by lowering courier and storage expenses and minimizing the risk of lost or delayed paperwork.

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Contact:

Todd Deutsch, U.S. Bank Public Affairs and Communications

todd.deutsch@usbank.com

About U.S. Bancorp

U.S. Bancorp, with approximately 70,000 employees and $676 billion in assets as of March 31, 2025, is the parent company of U.S. Bank National Association. Headquartered in Minneapolis, the company serves millions of customers locally, nationally and globally through a diversified mix of businesses including consumer banking, business banking, commercial banking, institutional banking, payments and wealth management. U.S. Bancorp has been recognized for its approach to digital innovation, community partnerships and customer service, including being named one of the 2025 World’s Most Ethical Companies and one of Fortune’s most admired superregional banks. Learn more at usbank.com/about.