How R3 is working with CryptoBLK, HSBC and other banks and corporates to revolutionize and revitalize trade finance letters of credit
How R3 is working with CryptoBLK, HSBC and other banks and corporates to revolutionize and revitalize trade finance letters of credit
8 PagesCase Study How R3 is working with CryptoBLK, HSBC and other banks and corporates to revolutionize and revitalize trade finance letters of credit, using the power of the Corda blockchain platform It’s not often that a trade finance transaction makes global headline, but that’s what happened in May 2018, when leading global banks HSBC and ING executed a letter of credit transaction for Cargill, the diversified international food and agriculture conglomerate. The letter of credit facilitated bulk shipment from Argentina, through Cargill’s Geneva-based trading arm, to Malaysia, with Cargill’s Singapore subsidiary as the buyer. However, the global scope of the transaction wasn’t the reason that the story made headlines. The reason was that this was no ordinary trade finance tra
