Kotak Mahindra Bank re-defines trade finance with blockchain

News

18 May 2017

Kotak Mahindra Bank, with the help of Blockchain technology, ushers in a new era in trade & commerce by reducing time taken for a Letter of Credit (LC) from 20-30 days to only couple of hours. Kotak is India’s first bank to successfully complete the PoC (proof of concept) for end-to-end trade finance transaction for one of its clients, and will soon roll out this technology for all customers.

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