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HSBC facilitates global steel industry first with blockchain trade finance deal between UAE and India


HSBC facilitates global steel industry first with blockchain trade finance deal between UAE and India
HSBC has successfully executed a blockchain-enabled, live trade finance transaction between the UAE’s Universal Tubes & Plastic Industries Ltd. and India’s Tata Steel Ltd. – a global first for the steel industry.
The Contour blockchain platform enabled end-to-end digitisation of the documentation required for Universal Tubes to import its order of flat carbon steel to the UAE from Tata Steel in India. The transaction is a real case scenario of the operational viability of blockchain as an alternative to conventional exchanges of paper-based documentation.
Sunil Veetil, Regional Head of Global Trade & Receivables Finance (GTRF) at HSBC, Middle East, North Africa and Turkey, said: “We are delighted with Universal Tubes’ and Tata Steel’s decisive action to conduct this trade over Contour, which reinforces the commercial and operational viability of blockchai ....

Sunil Veetil , Peeyush Gupta , Tubes Plastic Industries Ltd , Tata Steel , India Tata Steel Ltd , Plastic Industries , Universal Tubes , Regional Head , Global Trade , Receivables Finance , Middle East , North Africa , Universal Tube , Managing Director , Plastic Industries Ltd , Steel Marketing , பீயுஷ குப்தா , டாடா எஃகு , இந்தியா டாடா எஃகு லிமிடெட் , நெகிழி தொழில்கள் , பிராந்திய தலை , உலகளாவிய வர்த்தகம் , பெறத்தக்கவைகள் நிதி , நடுத்தர கிழக்கு , நிர்வகித்தல் இயக்குனர் , நெகிழி தொழில்கள் லிமிடெட் ,

Tata Steel, HSBC execute a blockchain-enabled, paperless trade transaction


In a first, Tata Steel, HSBC execute blockchain-enabled transaction
Tata Steel and HSBC successfully executed a blockchain enabled transaction, a global first for the steel industry. This transaction was executed on Contour s blockchain platform, a statement said.
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Tata Steel along with HSBC has executed a blockchain-enabled trade transaction a global first for the steel industry.
Tata Steel and HSBC successfully executed a blockchain enabled transaction, a global first for the steel industry. This transaction was executed on Contour s blockchain platform, a statement said. ....

Hitendra Dave , Peeyush Gupta , India To Universal Tube Plastic Industries , Tata Steel , Universal Tube , Plastic Industries , Vice President , Steel Marketing , Head Global Banking , ஹிதென்திற டேவ் , பீயுஷ குப்தா , டாடா எஃகு , நெகிழி தொழில்கள் , துணை ப்ரெஸிடெஂட் , எஃகு சந்தைப்படுத்தல் , தலை உலகளாவிய வங்கி ,