HSBC Issues First Letter of Credit on a Live Blockchain in Malaysia, Involves Firm Importing Resins

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The list of use cases of blockchain just got bigger as banking giant HSBC has issued a Letter of Credit on a live blockchain. The transaction involves a company called Simply Packaging for importing resin from a Singaporean company. The European bank’s Malaysian arm was the issuing party, while HSBC Singapore is the nominee. This …

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