Letters of Credit

Bandra-Worli Sea Link, Mumbai, India
15 Banks Form New Company to Process Letters of Credit in India Using Blockchain Technology
IBBIC's new system will verify data for invoices on goods and services tax, eliminate paperwork and significantly reduce transaction times.
Bandra-Worli Sea Link, Mumbai, India

hsbc
HSBC Carries Out Bangladesh's First Blockchain Letter-of-Credit Transaction
HSBC said the transaction over the Contour trade finance blockchain platform slashed the time normally taken to process letters of credit.
hsbc

Credit: Daniel Fung/Shutterstock.com
Standard Chartered Claims First Yuan-Based Letter of Credit Issued on a Blockchain
The bank said the blockchain letter-of-credit transaction – between mining giant Rio Tinto and Chinese firm Baosteel – was the first to be denominated in yuan.
Credit: Daniel Fung/Shutterstock.com