According to Commonwealth Bank of Australia and Wells Fargo & Co, the first major bank international trade transaction through blockchain has occurred, resulting in a shipment of American cotton to China. Australian cotton trader Brighann Cotton Marketing bought the shipment bound for the port city Qingdao from U.S. division Brighann Cotton in Texas, the companies and their banks said in a joint statement. The blockchain trade, for 88 bales, totaled $35,000, Commonwealth Bank told Reuters.