Letter of credit Current Affairs, GK & News

Reliance Industries receives India’s first Letter of Credit (LC) payment via blockchain

November 6, 2018

HSBC Holdings Plc has executed India’s first trade financial transaction using blockchain for a deal involving an export by Reliance Industries Ltd (RIL) to US-based Tricon Energy. The blockchain-enabled letter of credit (LC) reduces transaction timeline from 7-10 days to less than a day. The Letter of Credit (LC) was issued by ING Bank for ..

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