Reshaping trade finance with blockchain

Better Trade Finance with Blockchain Letter of Credit

Blockchain is a distributed database where network participants share information via a collective ledger

Blockchain for ​Letter of Credit​

The adoption of blockchain technology opens new opportunities for trade finance to create a better global trade system. Using Contour, a third-party blockchain-based platform that offers an end-to-end LC solution, HSBC can now process Letter of Credit (LC) transactions digitally – bringing banks, corporates, and logistics partners together onto a trusted, digital network in real time. ​

Why use Blockchain ​Letter of Credit?

  • Faster cash flow and financing

    Get financed within 1 day of document presentation

  • Trade efficiency
    Quicker document and fund turnaround time allows you to trade more
  • Increased visibility
    Higher transparency in logistics and planning
  • Minimised complexity
    A simplified workflow across counterparties​
  • Frictionless​
    Faster discrepancies resolution, lesser iterations on a single platform​
  • Cost efficient​
    Cost reduction on manpower, paper and storage​

How does blockchain letter of credit work?

The entire Letter of Credit application process takes place digitally via the Contour blockchain platform – from application to presentation of documents – allowing for faster, simpler and safer trade!

Contour blockchain finance letter of credit process flow chart

How to sign up for HSBC's Contour blockchain platform

  • Step 1 – Initial discussion with HSBC about trade digitisation
  • Step 2 – Connected with Contour
  • Step 3 – Sign legal documents with Contour and HSBC
  • Step 4 – Contour will help with system set-up and conduct training
  • Step 5 – Work with HSBC to structure DC trade on Contour
  • Step 6 – Congratulations! You are live on Contour

Contact a HSBC Trade Representative

Contact your HSBC Relationship Manager or Trade Representative to find out how Contour can support your business needs.

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