New Delhi, Feb. 25 -- MUFG Bank, Ltd. (MUFG), Japan's leading financial institution, has completed its first fully-digitalised trade finance transaction from its GIFT City Branch for a subsidiary of Tata International Limited, the global trading arm of the Tata Group.

Utilising the Contour Network Hub from Xalts, MUFG and Tata International Limited's Singapore treasury centre digitally negotiated, prepared, applied, and accepted a $15-million Letter of Credit within three hours, compared to a document-based transaction which would usually take up to two days.

This breakthrough significantly enhances international trade efficiency and underlines MUFG's dedication to leveraging technology in support of trade digitalisation, while enhancin...