Articles with tag: letter of credit

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Standard Chartered completes cross-bank Letter of Credit blockchain transaction between Vietnam and Thailand

11 Sep 2020 | Cryptocurrencies

Standard Chartered has successfully completed the first cross-bank Letter of Credit (LC) transaction between Vietnam and Thailand conducted over blockchain.

Standard Chartered, cross-bank, Letter of Credit, blockchain transaction, payments, Vietnam, Thailand, distributed ledger technology, Contour, trade finance

Surecomp supports DNB with SWIFT readiness ahead of new 2021 deadline

20 May 2020 | Payments General

Surecomp has announced that Norwegian bank DNB is ready to be switched on with SWIFT- compliant versions of both its front and back-end solutions, IMEX and allNETT.

Surecomp, banking, DNB, SWIFT, trade finance, letter of credit, Norway, corporates

HDBank, Contour Network to assist with LC issuance in Vietnam

07 May 2020 | Payments General

Vietnamese-based financial institution HDBank has joined Contour, an open trade finance network, to extend trade financing to more corporates.

HDBank, Contour Network, Letter of Credit, open trade finance network, blockchain

China Everbright Bank uses Ant Blockchain for supply chain finance

19 Mar 2020 | E-invoicing, SCF & E-procurement

China Everbright Bank has announced that it has launched a supply chain finance blockchain, with Ant Blockchain Duo Chain solution.

China Everbright Bank, Ant Blockchain Duo Chain, supply chain finance, coronavirus, China, Asia, APAC, CEB, Contour Letter of Credit, Contour, Voltron, blockchain, blockchain trade finance

Blockchain trade finance platform Contour ready to launch in Hong Kong

06 Mar 2020 | E-invoicing, SCF & E-procurement

A blockchain trade finance platform developed by eight banks, Contour, including HSBC and Standard Chartered, has gotten closer to commercial launch in Hong Kong.

Contour, State Administration of Foreign Exchange, trade finance, Standard Chartered, HSBC, China, Hong Kong, Asia, APAC, banks, banking, trade, letter of credit

DBS completes trade financing settlement on Networked Trade Platform

06 Feb 2020 | E-invoicing, SCF & E-procurement

Singapore-based DBS Bank has announced the completion of a trade finance settlement on Networked Trade Platform.

DBS, Singapore, trade finance, trade finance settlement, Audio, Networked Trade Platform, Premium, letter of credit, Asia, APAC

MUFG executes blockchain letter of credit using komgo

13 Jan 2020 | E-invoicing, SCF & E-procurement

Japan-based MUFG Bank has completed its first live blockchain transaction on the commodity trade finance platform, komgo.

komgo, MUFG, letter of credit, trade finance, blockchain trade finance platform, trade finance platform, MUFG Bank, ABN AMRO, BNP Paribas, Citi, Crédit Agricole Group, Gunvor, ING, Koch Supply & Trading, Macquarie, Mercuria, Natixis, Rabobank, Shell, SGS, Société Générale

HSBC Malaysia uses blockchain to upgrade the letter of credit

16 Oct 2019 | E-invoicing, SCF & E-procurement

HSBC Bank has announced the first live pilot blockchain letter of credit transaction in Malaysia.

HSBC Malaysia, Malaysia, blockchain, letter of credit, trade finance, Asia, APAC, pilot blockchain letter of credit

Emirates NBD launches new trade finance portal

24 Sep 2019 | E-invoicing, SCF & E-procurement

UAE-based bank Emirates NBD has launched smartTRADE, a new portal catering to supply chain and trade finance customers.

smartTRADE, Emirates NBD, trade finance portal, supply chain finance, trade finance, United Arab Emirates, EMEA, letter of credit, lending, B2B payments, bank guarantee

HSBC processes first blockchain letter of credit using CNY with Voltron

03 Sep 2019 | E-invoicing, SCF & E-procurement

HSBC has completed the first yuan-denominated blockchain-based letter of credit transaction within the Voltron trade finance platform.

HSBC, Voltron, blockchain, China, yuan, CNY, letter of credit, trade finance, trade finance platform, letter of credit transaction, BNP Paribas, Standard Chartered

StanChart, HSBC complete Letters of Credit on Voltron blockchain

08 Aug 2019 | E-invoicing, SCF & E-procurement

Standard Chartered has completed a pilot Letter of Credit transaction on the Voltron blockchain platform.

StanChart, HSBC, letter of credit, trade finance, Voltron, Voltron network, trade finance network, blockchain, PTT Group, Voltron Steering Committee

ICC releases report affirming trade finances decade-long low-risk profile

12 Jun 2019 | E-invoicing, SCF & E-procurement

The International Chamber of Commerce Banking Commission has released its 2018 Trade Register report highlighting the low risk nature of trade finance.

The International Chamber of Commerce Banking Commission, The International Chamber of Commerce, Trade Register, report, trade finance, letter of credit, global trade finance, Global Credit Data, GDP

HSBC uses blockchain for Letter of Credit between Australia and China

02 Apr 2019 | E-invoicing, SCF & E-procurement

HSBC has announced it used the Voltron blockchain trade finance platform for a live Letter of Credit (LC) transaction between Australia and China.

HSBC, Letter of Credit, trade finance, Australia, China, Voltron, trade finance platform, blockchain, LC transaction,, eTradeConnect initiative, Hong Kong, Asia, APAC,

YES BANK to facilitate Electronic Presentation of Export Documents

23 Nov 2018 | E-invoicing, SCF & E-procurement

India-based YES BANK has completed a first-of-its-kind digital transaction with Welspun Global Brands Limited, a subsidiary of Welspun India Limited.

YES BANK, Welspun Global Brands Limited, service implementation, deployment, India, Electronic Presentation of Export Documents, banking, lending, B2B payments, Letter of Credit

Singapore, India complete first blockchain-powered trade finance

21 Nov 2018 | E-invoicing, SCF & E-procurement

BNP Paribas and HSBC Singapore have completed Singapore’s first blockchain-enabled LC transaction between mining company Rio Tinto and Cargill.

BNP Paribas, HSBC Singapore, first blockchain transaction, cross-border transaction, B2B payments, Singapore, India, Rio TInto, Cargill, R3, Corda, blockchain trade finance, trade finance, letter of credit, LC

CGI, National Bank of Canada pilot blockchain guarantee and standby negotiation platform

22 Oct 2018 | E-invoicing, SCF & E-procurement

CGI has announced the collaboration with National Bank of Canada and Skuchain on a pilot programme upgrading the process for standby negotiation.

CGI, National Bank of Canada, Skuchain, Canada, blockchain, financial transaction, CGI Trade360, Contract Builder, B2B, letter of credit

Union Bank launches initiative for trade finance

08 Oct 2018 | E-invoicing, SCF & E-procurement

Union Bank of Nigeria has unveiled a initiative called Local Letter of Credit, a variant of the standard letter of credit adapted for use in domestic trade.

Union Bank, Nigeria, trade finance, local letter of credit, standard letter of credit, domestic trade