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Volvo Group tests proprietary cryptocurrency for supplier transactions

Reported · Written up by our desk · Market Structure

Volvo Group is exploring a proprietary cryptocurrency concept aimed at handling supplier transactions using blockchain technology, according to The Block.

The project remains in the ideation stage and has not yet been industrialized, meaning it is not currently in use at scale for payments with suppliers.

The Block reports the company is still in an early testing phase as part of a broader push toward blockchain-based transaction settlement.

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Sources

The BlockVolvo Group tests proprietary cryptocurrency for supplier transactions in blockchain push

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