Standard Chartered China works with a number of banks to develop the first cross-border blockchain letter of credit platform

On the occasion of the countdown to the 2nd China International Import Expo, Standard Chartered Bank (China) Co., Ltd. (Standard China) announced a series of solutions to help companies solve financing, stock capital revitalization and risk management in cross-border trade. The problem encountered. According to reports, Standard Chartered China has cooperated with a number of banks to develop the first cross-border blockchain letter of credit platform, which can shorten the processing time of letters of credit from 5 working days to less than 12 hours, which greatly saves the enterprise's time. And the participants in cross-border trade financing can view the progress of financing in real time, and the transparency and credibility of the process are greatly improved.