JP Morgan Treasury Services has expanded its global escrow services to Vietnam to provide additional risk management solutions to its clients across trade transactions.

The escrow service will be provided in Vietnamese dong and other major foreign currencies, and will help to reduce counterparty and transaction risk in relation to trade finance business.

Owen Ellsworth, Asia escrow product manager at JP Morgan, says: “We are able to provide our clients with greater certainty, security and comfort through the transaction lifecycle, helping them reduce counterparty and/or transaction risk. Escrow is a key component of best-practice risk management in terms of financial transactions.”

JP Morgan also launched escrow services in South Africa in June this year in a move to expand its trade products to other regions.