FULL LAUNCH: Lygon “mints industry standardised digital bank guarantee” and new Blockchain usage
Group banks «Raiffeisen» issued an international bank guarantee on the blockchain as a supply of goods between «Gazprom Neft» and the Belarusian MNPZ. The new model increases transparency, reduces costs and time of transactions.
Participants did not disclose «Komersant» the cost of the message, but it was reported that the R-chain platform was chosen as the base. It was originally planned to issue a digital letter of credit..
BTB issued a bank guarantee on the blockchain
The payment guarantee on the blockchain was issued by Priorbank, the Belarusian representative of the group «Raiffeisen», and the beneficiary is represented by Raiffeisenbank. First of all, for such operations, the international SWIFT system is used, but in it the system procedure takes a lot of time and limits the ability to monitor its work with clients…
Despite using the R-сhain platform, Raiffeisenbank will continue to work with «Masterchain», on the basis of which it has previously issued an electronic mortgage bond. Bank representatives say that solutions for the domestic market will continue to function on its basis, and R-chain is planned to be used for cross-border transactions within the group..
We previously reported that Binance will help investors and traders by publishing reports for them, providing a comprehensive analysis of tokens and projects.
text: Ivan Malichenko, photo: om1, cijeurope