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The South Korean shipper is the latest to adopt digital LC in an effort to upgrade its trade processes and become more sustainable.
Inability of various technology platforms to communicate with each other securely and lack of scale are obstacles to greater digitization, say bankers.
The Asia treasurer tells CT the limits of blockchain to its business and what more needs to be done to speed up trade finance.
The mining and steel giants worked with their bank partners to complete an iron ore shipment via electronic trade presentation.
CT reveals the key treasury findings from its third – and largest – annual trade finance and risk management poll.
The Asean single market is ready for go live by 2016 but major issues will take longer to resolve; Singapore tweaks FX policy; RBI eases ECB standards