Blockchain Network Contour Completes Pilot Transaction in Vietnam
Contour, a Singapore-based blockchain network, recently announced it a completed pilot transaction between Tainan Spinning and Century Synthetic Fiber Corporation. Contour reported CTBC Bank, a founder bank of Contour, was the advising bank in the LC transaction, supporting Tainan Spinning. The importer, Century Synthetic Fiber Corporation was supported by Vietnamese-based HDBank who acted as the issuing bank.
Contour further revealed through supporting this transaction flow, it is building a new “global standard” and removing barriers in the trade ecosystem and better supporting the opportunities for collaboration.
“Contour’s decentralised network allows all parties to have visibility of the trade while also ensuring that no single organisation – including Contour – controls all the data. This ensures that both banks, importers and exporters have improved visibility without compromising securit
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Contour conducts Vietnamese transaction
Source: Contour Contour, the global trade finance network, has today announced a completed pilot transaction between Tainan Spinning and Century Synthetic Fiber Corporation. This news highlights the ongoing advantages of Contour’s blockchain network and showcases the growth of the business in Vietnam and Taiwan.
CTBC Bank, a founder bank of Contour, was the advising bank in the LC transaction, supporting Tainan Spinning. The importer, Century Synthetic Fiber Corporation was supported by Vietnamese-based HDBank who acted as the issuing bank. HDBank is the first Vietnamese based bank to have accomplished the full import LC transaction flow from issuance to presentation and settlement. This transaction marks the first time HDBank has utilised the network, and the firs