Exchanges & Trading
Share
It was done over the ‘Contour’ blockchain platform in which HSBC is a founding shareholder. “We are confident this will pave the way for widespread adoption by other clients, counterparties and industries, many of whom we are already in talks with,” said Sunil Veetil, Regional Head of Global Trade & Receivables Finance (GTRF) at HSBC.
The platform allows all parties to have visibility of a trade with no single organisation having control of all the data. This was the first integrated paperless letter of credit and eDocs transaction for a steel export, as well as the first end-to-end paperless trade combining electronic bills of lading and digitised letter of credit in the steel commodity business.
Disclaimer of Warranty
The information provided in this article is for general informational purposes only. We make no warranties about the completeness, reliability, and accuracy of this information. Read full disclaimer
Editor's Picks

UAE Stablecoins: Why They Are Built to Travel, Not Stay Local
Walid Abou Zaki
Feb 28, 2026
8 min

The Central Bank of the UAE Clearing the Noise Around Article 62
Walid Abou Zaki
Feb 25, 2026
5 min

Europe’s Crypto Purge: Did Lithuania Just Kick Out Innovation — and is the UAE the Beneficiary?
Salma Naueihed
Feb 18, 2026
7 min
Read More Articles
In the Same Space

Bitcoin Retreats as Oil Surges Above $100 After Tanker Attacks
News Desk
Mar 12, 2026
4 min

SEC and CFTC Sign Coordination Pact to Align Crypto and Financial Market Oversight
News Desk
Mar 12, 2026
4 min

Solana ETFs Attract Institutional Investors While XRP Funds Lean Retail
News Desk
Mar 11, 2026
4 min

GCEX Expands Institutional Offering with Tokenized Gold Trading
News Desk
Mar 11, 2026
2 min