7 May 2020
Yesterday, Vietnam’s HDBank said it joined the Contour trade finance blockchain platform for improving the Letter of Credit issuance to its clients. It is the first Vietnamese bank to join the Contour network, previously known as Voltron.
As of December 2019, HDBank had total consolidated assets of VND 229 trillion ($9.8 billion). The bank is joining Contour to offer trade finance services to corporates in Vietnam. Launched earlier this year, Contour is digitizing the letter of credit process, which involves a lot of paperwork.
Read more at Ledger Insights, here.