Trade finance digitisation provider Bolero has signed a formal partnership agreement with the dltledgers blockchain platform for trade execution. This opens the way for importers and exporters for the first time to execute physical trades, end-to-end, without sending paper documents.

Banks can offer trade financing support through the Singapore-based dltledgers platform, which facilitates letter of credit (L/C) transactions and supply chain financing.

New way of collaborating

The agreement allows corporates, trading companies, and banks to collaborate in an entirely new way.

While many of these organisations have already digitised their internal operations, they still collaborate with external parties using email, telephone, and physical trade documents.

Major shift

Bolero's electronic bill of lading can now underpin the dltledgers platform for both new and existing customers, meaning trades can be executed end-to-end without the use of physical documents.

According to dltledgers, for companies looking to future-proof and streamline their trade operations, and shorten trade and working capital cycle times, this represents a major shift.

This article represents the views of the author and not necessarily those of the ICC or Coastline Solutions.