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Further Discussions => Blockchain Technology => Topic started by: Malam90 on January 06, 2021, 02:32:59 PM

Title: Vietnamese bank issues its first letters of credit on the blockchain.
Post by: Malam90 on January 06, 2021, 02:32:59 PM

HDBank has processed its first L/C transactions since joining the Contour platform for international trade. Major Vietnamese bank HDBank has now become the first bank in the country to issue letters of credit, or L/C, using blockchain technology.

According to a Jan. 6 report by local media outlet Việt Nam News, the issuance, document presentation and successful payment of L/C on the blockchain marks a major milestone on HDBank’s stated goal, to become a “Happy digital bank”.

The participants in the first transaction were a local fiber importer and a Taiwanese yarn manufacturer, along with the L/C advising bank in Taiwan. Read more from source link (https://cointelegraph.com/news/vietnamese-bank-issues-its-first-letters-of-credit-on-the-blockchain)