Tag: letter of credit

The South Korean shipper is the latest to adopt digital LC in an effort to upgrade its trade processes and become more sustainable.

The bank has completed its first digitised letter of credit transaction on the Contour platform.

SC veteran, Samuel Mathew, has joined Contour as a board director, in Singapore. The network's CEO sees opportunities to grow and commercialise its trade finance solution amid China’s reopening.

The new end-to-end digital solution reduces the traditional letter of credit lifecycle by up to seven days, freeing up working capital for corporates.

Launching their first product in 2020, the Contour team draws on banking and fintech experience to change the landscape of trade finance.

Collaboration intended to streamline trade processes in key regions including Africa, by bringing together banks and businesses on software company R3’s Corda blockchain platform.

Inability of various technology platforms to communicate with each other securely and lack of scale are obstacles to greater digitization, say bankers.

In an industry first, the Singapore lender has completed a S$4.8 million trade finance settlement for Super Steel. There are now two more such deals in the pipeline

Audi Singapore and Premium Automobiles with DBS Bank completes first trade financing transaction, or letter of credit, on Singapore’s Networked Trade Platform

The trade was completed by harnessing HSBC’s capabilities through the Voltron platform

A letter of credit has been issued on the Voltron blockchain platform to facilitate trade of an “oil product” between a Thai supplier and its Singaporean subsidiary. CT takes a look at Voltron’s progress so far.

Blockchain's first trade financing between two banks saved its customer days on paper processing, as an LC was transferred between the Commonwealth Bank of Australia and Wells Fargo.