A new system represents a significant improvement in global export market interactions in India

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HSBC India, a major global banking and financial services firm completes the joint blockchain-enabled transaction with India’s holding giant Reliance Industries (RIL).

The blockchain-powered letter of credit (LoC) transaction, reportedly the first of its kind in India, involved export by RIL to U.S. client Tricon Energy, which sufficiently reduced both the time and costs of processing documentation.

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