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HSBC Bangladesh Issues the First Letter of Credit on the Blockchain

HSBC Bangladesh has executed a blockchain-based Letter of Credit (LoC) transaction helping reduce wait time from 5-10 days to less than 24 hours, a Nov 1 report by the Daily Star reveals. HSBC Bangladesh Issues the First Letter of Credit (LoC) on the Blockchain A Letter of Credit is a commercial document issued by the bank andRead MoreRead More. дальше »

2020-11-3 02:00


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Standard Chartered Bank Issues First DLT-Powered Letter of Credit

In a press release on August 7, 2019, U. K. -based Standard Chartered Bank, revealed it had successfully executed a pilot of the first cross-border Letter of Credit (LC) on blockchain for companies in the oil industry, including PTT Group, a Thailand state-run oil and gas company, PTT International Trading Pte Ltd, and IRPC Public Company LimitedRead MoreRead More. дальше »

2019-8-8 13:00


Bank of America Merrill Lynch Promoting Ripple’s Cross Border Solutions

A Slideshare by Bank of America Merrill Lynch (BAML) and uploaded by Swift, “SWIFT LARC 2019 – Innovation in Latin America_BAML” from May 2019 recently surfaced online. Per BAML’s GTS innovation program, the bank is involved in Participation Experimentation Consortium memberships, commercial letter of credit, and proof of concepts bank-to-bank, in the blockchain space. The […] дальше »

2019-6-30 16:52


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Bitfinex Faces Legal Action From NY Attorney General: Here’s What This Means

The New York Office of the Attorney General (AG) wants to take a closer look into the business operations of Bitfinex and related stablecoin issuer Tether (USDT). According to a legal petition filed with the Supreme Court of New York, the NY Attorney General Office of Letitia James is applying for a court order to investigate Bitfinex’s suite of interrelated companies (including its umbrella firm iFinex and Tether Holdings Limited) for “ongoing fraud” to the tune of $850 million. дальше »

2019-4-27 01:30


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LC Lite Partners with Incomlend to Improve Letters of Credit through Blockchain Technology

LC Lite and Incomlend are teaming up to take on the global trade industry by creating a blockchain-based platform that streamlines the letter of credit process, reported on February 11, 2019. Where Credit Is Due The issuing and use of letters of credit are about to get a whole lot easier as LC lite hasRead MoreRead More. дальше »

2019-2-12 20:00


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Bank of Canada Runs a Blockchain-based Pilot for a LOC Negotiation Platform

CGI, Group Inc. , a renowned IT, and business consulting firm, announced on October 21 a collaboration with the National Bank of Canada and Skuchain, a blockchain technology company aimed at optimizing the supply chain, in a pilot program to streamline and improve the process for negotiation standby letters of credit and guarantees. дальше »

2018-10-23 15:59