Rio and Cargill complete Singapore’s first blockchain letter of credit
HSBC and BNP Paribas are behind a blockchain-enabled letter of credit for a bulk shipment of iron ore between Australia and China, cutting a two-day process down to two hours
BNP Paribas and HSBC Singapore have successfully completed Singapore’s first fully digitised end-to-end letter of credit (LC) transaction between Rio Tinto in Australia and Cargill in China.
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