Saudi Aramco invests $5mn into blockchain oil trading platform Vakt

Saudi Aramco invests $5mn into blockchain oil trading platform Vakt
Published: 29 January 2020 - 7:15 a.m.
By: Carla Sertin

Saudi Aramco Energy Ventures has invested $5mn into blockchain-based trading platform Vakt, the company announced on Tuesday.

Vakt is a platform for post-trade processing, founded by companies including BP, Shell, and Equinor, among others. Since it was founded in 2018, Chevron, Reliance Industries, and Total have also joined.

Aramco Trading Co, one of Saudi Aramco's subsidiaries, will use the platform.

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