HSBC has issued its first yuan blockchain-based letter of credit transaction, Reuters reported. The move is significant progress in the use of the Voltron trade finance platform, which was developed by eight banks, including HSBC, BNP Paribas and Standard Chartered. While the platform has predominately...
Readers of this space know that trade finance — which concerns both domestic and international B2B transactions — has been mired in paper. Paper checks, letters, letters of credit … even fax transmissions (and yes, email of course). The dependence on dead trees for finance...
September 02, 2019
HSBC has issued its first yuan blockchain-based letter of credit transaction, Reuters reported. The move is significant progress in the use of the Voltron trade finance platform, which was developed by eight banks, including HSBC, BNP Paribas and Standard Chartered. While the platform has predominately been used in individual pilot cases, Ajay Sharma, HSBC’s regional […]
