company

by integrating knowledge from existing industries with the capabilities and design needs of new technology, the komgo team is positioned to catalyse global commodity trade.

our story

how did we get here

September 2016

ING, Société Générale and Mercuria team up to digitise the first blockchain-based oil transaction from Africa to China. The experiment - called “Easy Trading Connect” - was designed for paperless trading. The transaction included traders, banks, agents, and inspectors - all of whom performed their roles directly on the blockchain-based network.

February 2017

ING and Société Générale present the results of the Easy Trading Connect blockchain proof-of-concept in London. The presentation proved speed, cost, and risk could all be improved through a blockchain-based solution.

April 2017

Several of the world’s largest trading houses launch a unique collaboration to create and invest in a new venture, to be managed and operated as an independent entity. The new venture will develop a blockchain-based digital network to modernise and transform the industry.

May 2017

ING, Société Générale, ABN Amro, and Louis Dreyfus Company (LDC) team up to repeat the African crude oil transaction, but with the first agricultural commodity.

December 2017

Nine investors and VAKT team up to explore the potential of blockchain technology in commodities trading and to select IT partners for potential development.

January 2018

Louis Dreyfus Company, Shandong Bohi Industry Co., Ltd, ING, Société Générale, and ABN Amro complete the first full agricultural commodity transaction on the blockchain with a shipment of soybeans from the US to China. The pilot, known as Easy Trading Connect 2, reduced data processing time from hours to minutes and allowed for a larger scope of blockchain implementation.

February 2018

ING, Société Générale, ABN Amro, Mercuria, and Shell initiate the building of the first blockchain-based commodity trade solution based off the learnings of the two Easy Trading Connect pilots. They invite ten initial shareholders to the network.

August 2018

On August 21, komgo is incorporated with 15 shareholders.

December 2018

komgo goes live and begins automating global commodity trades.