Voltron provides a single point of contact to connect corporates with their banks and trading partners, on a distributed ledger, for issuing letters of credit (LCs) and exchanging documents, to make transacting with LCs more efficient.
Where LCs require a complex global paper-chase, distributed ledger technology (DLT) involves a single, transparent, end-to-end trade, executed quickly and seamlessly between buyer, seller and their respective banking partners, say Voltron’s backers.
Being conducted on a single, shared application, rather than multiple systems, it delivers a substantial reduction in the time it takes to execute the trade, from up to 10 days, down to 24 hours.
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