Credit Bank of Moscow has implemented a test transaction to issue and cash an import letter of credit in Contour, an international trade finance network, together with Snezhnaya Koroleva, the bank informed.
Based on the R3 Corda blockchain platform, Contour is used to digitize paperwork-intensive trade finance processes, including the creation, exchange, approval, and issuance of letters of credit.
Credit Bank of Moscow (PJSC) (CBM, tax number: 7734202860) was established 1992. The bank's ultimate beneficial owner is Rossium Concern's founder Roman Avdeev.
Snezhnaya Koroleva is a major Russian chain of multi-brand fashion stores.
