Finance Breaking news VTB issues bank guarantee through Masterchain blockchain platform last financial news

Breaking-Finance.Com - VTB has become the first bank in Russia to issue a digital bank guarantee for commercial operation using the Masterchain blockchain platform.

Finance Breaking news VTB issues bank guarantee through Masterchain blockchain platform last financial news

Breaking-Finance.Com - VTB has become the first bank in Russia to issue a digital bank guarantee for commercial operation using the Masterchain blockchain platform.

Finance Breaking news VTB issues bank guarantee through Masterchain blockchain platform last financial news
17 December 2020 - 09:00

Breaking-Finance.Com - VTB has become the first bank in Russia to issue a digital bank guarantee for commercial operation using the Masterchain blockchain platform. A guarantee for the fulfilment of payment obligations in the amount of 392 million rubles ($5 million) was issued in favour of Russian firm MTS. The transaction was carried out in real time, with VTB issuing a digital guarantee signed with a reinforced qualified signature, which MTS accepted, sending a corresponding notification to the bank.

.Vadim Kulik, deputy president and chairman of the VTB management board, says: "We are the first in Russia to bring our technological systems into compliance with the requirements of the Masterchain blockchain platform and launched the industrial issuance of electronic bank guarantees. "This allows you to speed up the process of obtaining guarantees by the beneficiary and reduce the paper document flow. In addition, the placement of data in a distributed register eliminates the risks of fraud with bank guarantees."

Source = Breaking-Finance.Com

Financial breaking news

This news 67 hits received.

Finance Breaking news VTB issues bank guarantee through Masterchain blockchain platform last financial news


Finance Breaking news VTB issues bank guarantee through Masterchain blockchain platform last financial news


Finance Breaking news VTB issues bank guarantee through Masterchain blockchain platform last financial news


Finance Breaking news VTB issues bank guarantee through Masterchain blockchain platform last financial news

COMMENTS

  • 0 Comment
MAY INTEREST YOU x
Finance Breaking news Finch Capital's Nomu Pay sweeps up Wirecard Apac assets last financial news
Finance Breaking news Finch Capital's Nomu Pay sweeps up...
Finance Breaking news ING splits board level responsibility for operations and technology last financial news
Finance Breaking news ING splits board level responsibility for...