On Wednesday it was
announced that the
Voltron Letter of Credit platform was used for an end-to-end paperless transaction from sale to bill of lading. The shipment was for iron ore from Rio Tinto to
Cargill with
HSBC and
BNP Paribas involved in the Letter of Credit.
Both the sale and bill of lading came from external solutions integrated with Voltron.
The sale was executed on Chinsay’s Intelligent Contract Platform (ICP) so that the digitally signed contracts were issued in a matter of hours. The Voltron platform extracted the details which were used to execute the Letter of Credit within two hours.
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