Singapore Bank Used Corda To Perform Financial Transactions In Just 24 Hours
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A Singapore-based bank called HSBC worked in combination with US-agriculture firm Cargill to rapidly reduce financial transaction times. HSBC said while it normally takes 5-10 days using conventional technologies, it only took 24 hours when performed on a Corda blockchain. The bank was able to issue a letter of credit to Dutch lender ING when Cargill sent a bulk shipment of soy beans from Argentina to Malaysia.

Using Corda, the bank no longer had to struggle with long paper trails and confusion.


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