Odaily Planet Daily News: The holding company of the Marco Polo trade finance network (formerly TradeIX) has entered bankruptcy proceedings in Ireland. The blockchain network has more than 30 bank members, such as Commerzbank, Bank of New York Mellon and SMBC, and its backers include ING Ventures and BNP Paribas. Recently, a potential $12 million deal with Bank of America fell through, and the company failed to find alternative investors. The company's liabilities exceed its assets by €2.5 million ($2.6 million), and its total debts are €5.2 million ($5.5 million). The latest accounts submitted are for 2021, showing losses of nearly $29 million and cumulative losses of $85 million. The largest external shareholder is Kistefos, followed by Japan's SBI, ING, SMBC and BNP Paribas. (Ledger Insights)