Continuing their unique collaboration, GSBN, IQAX and ICE Digital Trade now enable cross-platform electronic bill of lading (eBL) transactions involving banks. New Golden Sea Shipping (a COSCO Group subsidiary), Lenzing (Thailand) Co., Ltd, HSBC Thailand, China Zheshang Bank (CZBank), and Jiangsu Dasheng Group Co., Ltd. have successfully completed a live eBL transaction, marking a significant step toward scalable interoperability in trade finance.
The transaction began with New Golden Sea Shipping issuing the eBL to Lenzing Thailand on IQAX eBL. It was then transferred to HSBC Thailand via ICE CargoDocs and presented to CZBank on the same platform. Finally, the eBL was surrendered by Jiangsu Dasheng via IQAX eBL. This end-to-end flow demonstrates cross-platform connectivity and, importantly, successful integration of both shipping and banking networks.
By connecting the IQAX eBL and ICE CargoDocs platforms and leveraging GSBN’s blockchain-powered infrastructure to ensure singularity, this collaboration has proven that eBLs can move securely and seamlessly across platforms, industries, and jurisdictions.
In developing this partnership, GSBN, IQAX and ICE Digital Trade have focused on the essential requirements for eBL interoperability: a robust legal framework, a trusted technical solution, a viable liability framework, and P&I Club approval to ensure carrier adoption. This approach meets the needs of the industry, who are engaging in a proactive way to drive eBL adoption in an interoperable world.
By enabling secure and legally valid eBL transfers across multiple platforms — GSBN, together with IQAX eBL and ICE CargoDocs — have demonstrated that eBLs can flow freely across the trade ecosystem, including to and from banks. GSBN’s blockchain-based Control Tracking Registry ensures unicity each time the eBL is transferred across platforms. Combined with an inter-platform liability framework, corporates and banks have a scalable, trusted pathway to digitisation that reduces operational friction and speeds up document handling.
Bertrand Chen, CEO of GSBN, said: “Interoperability is the catalyst that transforms eBLs from simple digital records into true instruments of value. By enabling the connection between eBL solution providers through a unified data and trust layer, GSBN is driving faster, more transparent, and more inclusive trade finance. This is more than digitisation, but a fundamental reimagining of global trade as an interconnected digital economy. Interoperability provides the foundation, and the next frontier is seamlessly linking documentation with money.”
George Guo, CEO of IQAX said: “Empowered by trusted data and strengthened by robust interconnectivity, IQAX eBLs are transforming from a digital document into a common anchor that can link logistics and financial rails. This enables greater resilience, efficiency, and reduces risk for every participant in the supply chain. As these processes and data align, users will benefit from trade intelligence and new value creation. At the same time, they are future-proofing their businesses — preparing them to quickly harness any new innovations that emerge.”
Marina Comninos, Co-head of ICE Digital Trade, said: “Interoperability adds much needed flexibility and optionality as the industry continues to accelerate its journey toward widespread digital trade adoption. This transaction demonstrates how trade and trade finance ecosystems are embracing the interoperability framework developed by ICE Digital Trade, GSBN and IQAX, paving the way for faster, more transparent trade finance processes that can scale. It’s a significant step toward a fully digital, frictionless future.”
Parsan Chand, Sr Director Global Logistics at Lenzing, said: “As a leading manufacturer of Wood based Cellulosic fiber, efficiency and reliability in trade documentation is critical. This initiative shows how interoperability can simplify complex processes, reduce risk, and accelerate transactions. We are proud to be part of a pilot that sets a new benchmark for digital trade and sustainability. Apart from e-BL, a complete set of commercial documents including insurance certificate, Cert of Origin also been handled digitally.”
Venkatraman P, Managing Director, Head of Products and Propositions – Asia Pacific & Global Core Trade at HSBC, said: “As the world’s largest trade bank, HSBC is at the forefront of trade digitisation, working with our clients to embrace latest solutions that enhance efficiency and reduce risk. eBL interoperability is a pivotal advancement in digital trade, not only supporting our commitment to scalable, digital trade finance, but also positioning us to harness future digital opportunities.”
Wan Yang, General Manager at CZBank, said: “We are honored to be the first commercial bank in China engaged in this pilot cross-platform practice of eBL interoperability. We aim to quickly and efficiently meet the needs of our valued customers. The success of this cross-platform eBL transfer through the whole digital trade chain definitely brings more efficiencies and less costs to our customers.”
Weidong Bao, General manager of Dasheng said: “Over its 130-year journey, Dasheng has embedded innovation into its DNA, making it the driving force for development. As a pioneer and industry leader in digital transformation, Dasheng continues to strengthen its enduring foundation and progressive momentum through continuous technological advancement and innovative business models. The successful implementation of this electronic document presentation reaffirms Dasheng’s leadership in digital innovation and underscores the enduring strength of this century-old brand in keeping pace with the times.”
Source: ICE Digital Trade
