Articles with tag like: letter of credit

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

News | Cryptocurrencies | 11 Sep 2020

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

News | Payments General | 20 May 2020

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

News | Payments General | 07 May 2020

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

Blockchain trade finance platform Contour ready to launch in Hong Kong

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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, we.trade, eTradeConnect initiative, Hong Kong, Asia, APAC

YES BANK to facilitate Electronic Presentation of Export Documents

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

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

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

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

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

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

Standard Chartered to pilot DLT-based smart guarantees in trade finance

News | E-invoicing, SCF & E-procurement | 29 Aug 2018

Standard Chartered has teamed up with Siemens Financial Services and TradeIX to create a blockchain-based smart guarantees proposition in trade finance

Standard Chartered, blockchain, UK, smart guarantees, trade finance, TradeIX, Siemens Financial Services, letter of credit, commercial bank guarantee, paper intensive process, auto-executing smart contracts, Corda Distributed Ledger