Logo Chandra Asri
Chandra Asri and PermataBank Completed the First Blockchain Technology Trade Finance Transaction in Indonesia

19-11-2021

Chandra Asri and PermataBank Completed the First Blockchain Technology Trade Finance Transaction in Indonesia

On 19 November 2021, PT Chandra Asri Petrochemical Tbk and PermataBank successfully launched a trade finance transaction using blockchain technology as a breakthrough for the trade financing process in Indonesia. PermataBank partners with Bangkok Bank PLC (Thailand) supported Letters of Credit issuance of Chandra Asri in Indonesia to their supplier. This transaction was completed on the Contour network within several hours compared to the traditional paper-based method. All parties achieved a significant efficiency improvement from digital information exchange, process streamlining, and transaction traceability. In implementing this technology PermataBank collaborates with Contour, a blockchain-based company that provides services to more than 80 banks and companies across 17 countries in Asia, the Middle East, and Europe. This market-leading transaction marks the latest milestone of Chandra Asri’s Digital Transformation Program which can drive national economic growth.

Read Other News
Chandra Asri Group's Contribution to National Resilience with the Indonesian Ministry of Defense
08-05-2025

Chandra Asri Group's Contribution to National Resilience with the Indonesian Ministry of Defense

KCE Partners with Global Players to Explore Hydrogen Energy Potential in Industrial Area
30-06-2025

KCE Partners with Global Players to Explore Hydrogen Energy Potential in Industrial Area

Indonesia Asri Hosts Circle of Beauty 4.0, Promotes Mindful Beauty Lifestyle
25-06-2025

Indonesia Asri Hosts Circle of Beauty 4.0, Promotes Mindful Beauty Lifestyle