Letter of credit Current Affairs, GK & News
Reliance Industries receives India’s first Letter of Credit (LC) payment via blockchain
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 ..
Topics: Bill of Lading • Blockchains • cryptocurrencies • Economy • Ethereum • HSBC France • International finance • Letter of credit • Money • Payment systems • Reliance Industries Limited