Last year, more than $24 trillion in goods crossed borders. Roughly 80% to 90% of that trade requires some form of financing, whether from credit lines, guarantees or insurance.
For decades, the dollar-dominated, bank-led machinery of global trade finance worked in the background. Now, trade volatility, supply chain realignment, and new digital asset currencies are testing a system designed for a more integrated world.
As announcements this week from HSBC, Barclays, Visa and others reveal, trade finance is becoming a frontline battleground, one that growth-oriented chief financial officers need to pay close attention to.
Barclays announced Monday (Sept. 29) that it…