Post by account_disabled on Dec 24, 2023 7:15:41 GMT 1
Krungsri (Bank of Ayudhya Public Company Limited) reinforces its leadership in digital banking. Continuing our success in serving business customers through continuously evolving financial innovations, Krungsri recently successfully applied Blockchain innovation for international trade (Global Trade Finance Blockchain) to be used in letter of credit transactions. of Credit: L/C) between trading partners which are leading companies in Thailand and Japan for the first time. Create a new phenomenon that drives international trade transactions to the next level. Operates in Own Sandbox under the supervision of the Bank of Thailand, Mr. Siam Prasitsirikul.
Vice President of Information Technology and Operations Business Support Group and Acting for the Digital Banking and Innovation Division Executive Bank Telegram Number Data of Ayudhya Public Company Limited said, “Krungsri remains committed to its mission of making money easy for customers through the bank's operational processes and has never stopped developing financial technology on digital channels. This time, Krungsri was successful in applying blockchain technology. In L/C transactions between trading partners in Thailand and Japan This is the first time in the Thai commercial banking industry that we are able to provide such services with leading innovations that meet international security standards.
The pilot of electronic L/C services between business partners in Thailand and Japan through blockchain technology is the first This is developed on the platform of Contour, a blockchain transaction network for international trade. (Blockchain-based global trade finance platform) Krungsri acts as the issuing bank for the importer, a Japanese metal parts manufacturing company with production bases in Thailand. and ordered imported goods from a trading partner who is a leading company in Japan. The international L/C transaction through this blockchain innovation was successful in just 1 hour," Mr. Siam added.
Vice President of Information Technology and Operations Business Support Group and Acting for the Digital Banking and Innovation Division Executive Bank Telegram Number Data of Ayudhya Public Company Limited said, “Krungsri remains committed to its mission of making money easy for customers through the bank's operational processes and has never stopped developing financial technology on digital channels. This time, Krungsri was successful in applying blockchain technology. In L/C transactions between trading partners in Thailand and Japan This is the first time in the Thai commercial banking industry that we are able to provide such services with leading innovations that meet international security standards.
The pilot of electronic L/C services between business partners in Thailand and Japan through blockchain technology is the first This is developed on the platform of Contour, a blockchain transaction network for international trade. (Blockchain-based global trade finance platform) Krungsri acts as the issuing bank for the importer, a Japanese metal parts manufacturing company with production bases in Thailand. and ordered imported goods from a trading partner who is a leading company in Japan. The international L/C transaction through this blockchain innovation was successful in just 1 hour," Mr. Siam added.