Bangladesh's first blockchain-enabled, paperless LC platform

The first step toward
Bangladesh's interoperable digital trade future.

GreenLC is a trade-finance modernization initiative by SSCL, designed to support secure, auditable, and interoperable processing of Letters of Credit and documentary collection workflows.

Built on proven open-source foundations, GreenLC brings together domain knowledge, banking workflow experience, and secure digital document handling to help make Bangladesh's digital trade vision practical.

Request a Discussion Explore the Timeline
GreenLC digital Letter of Credit workflow across Bangladesh trade corridors
Electronic LC presentationImport · Export · Back-to-back
Audit trail & provenanceEvery status change tracked
Bank-to-bank workflowInteroperable by design
First released
December 2021
Proofs of concept
12 banks
Current phase
Adoption & Expansion
Focus
Inland LC
Why now

Bangladesh is moving toward interoperable digital trade

Bangladesh Bank's 2026 pilot framework creates a clear direction for digital processing of trade documents under Letters of Credit and documentary collections through approved trade corridors.

The framework emphasizes secure electronic documents, interoperability, technology neutrality, independent verification, privacy by design, auditability, and phased implementation.

GreenLC was built before this market shift became mainstream. Today, that early work gives SSCL a practical foundation to support banks as they prepare for digital LC, documentary collection, and corridor-based trade-document processing.

Interoperable by design

GreenLC was designed so that banks can participate in a shared digital trade workflow without being locked into a closed platform.

Secure and auditable

Every document movement, acceptance, endorsement, and status change can be tracked with strong audit trails and provenance.

Built for Bangladesh

GreenLC focuses on local banking realities: inland LC, back-to-back LC, importer/exporter workflows, bank-to-bank coordination, and hybrid physical/digital fallback.

The challenge

Trade finance still depends on paper, repetition, and fragmented communication

LC and documentary collection processes involve multiple parties, repeated document exchange, manual verification, status uncertainty, and significant operational follow-up.

For inland and back-to-back LC flows, unnecessary external messaging dependency can also create avoidable cost and foreign-currency outflow. GreenLC addresses this by providing a local, secure, bank-ready platform for controlled digital trade-document exchange.

01

Paper-heavy processing

Physical document movement slows down verification, acceptance, and settlement.

02

Limited visibility

Banks, importers, exporters, and counterparties often lack shared status visibility.

03

Repeated verification

The same document data is reviewed multiple times across parties.

04

Cost and dependency

Domestic trade flows should not rely unnecessarily on external infrastructure where a secure local alternative is possible.

Platform capability

A practical platform for digital LC and documentary collection workflows

GreenLC supports the core workflows required for modern trade-document processing while allowing banks to adopt gradually.

Import LC

Digital handling of import LC document presentation, verification, and bank-side workflow.

Export LC

Exporter-side document submission and bank-to-bank processing support.

Documentary collections

Digital document exchange under collection arrangements, aligned with the Bangladesh Bank framework.

Electronic presentation

Importers and exporters submit, access, track, and manage documents through secure digital interfaces.

Bank-to-bank workflow

Controlled exchange between issuing, advising, nominated, and counterpart banks.

Audit trail & provenance

Platform-generated logs support traceability, receipt, acceptance, endorsement, and transfer evidence.

Hybrid fallback

Where full digital handling is not yet feasible, GreenLC supports practical physical/digital fallback.

Corridor-based pilots

Support for controlled pilots across local inland and back-to-back LC corridors.

Why interoperability matters

Not a closed platform. A Bangladesh-ready foundation for interoperable digital trade.

The future of digital trade will not be built around one isolated system. Banks, regulators, exporters, importers, and counterpart institutions need systems that can exchange, verify, and trust documents across platforms.

GreenLC was designed with that future in mind — supporting secure document exchange, independent verification, controlled access, auditability, privacy, and gradual adoption across banking participants.

Exporter
Document submission
Bank A
Issuing / advising
GreenLC workflow layer
Secure · auditable · interoperable
Bank B
Nominated / counterpart
Importer
Access & acceptance
Verification Audit trail Access control Hybrid fallback Interoperability layer
The GreenLC journey

Built early, and improved through every phase

GreenLC did not begin after digital trade became a regulatory trend. SSCL started building early, worked with banks, engaged with Bangladesh Bank, and continued improving the platform through PoCs and version releases.

2021December
v1.0 released

GreenLC v1.0 released

SSCL released the first version of GreenLC, establishing Bangladesh's first blockchain-enabled LC platform.

2022
Bangladesh Bank

Engagement with Bangladesh Bank

Three engagement meetings were held with Bangladesh Bank across the year to present the concept, discuss the opportunity, and explore the future of digital LC processing in Bangladesh.

Q1 2022 First concept discussion
Q2 / Q3 2022 Technical and regulatory engagement
Q4 2022 Follow-up discussion on adoption pathway
2023
v2.0 · consortium

Consortium-building and GreenLC v2.0

SSCL worked with multiple leading banks to build a consortium approach for digital LC exchange. GreenLC v2.0 was released with a stronger foundation for multi-bank participation.

2024– 2025
v3.0 · 12-bank PoCs

PoCs with 12 banks and GreenLC v3.0

GreenLC was tested through PoCs with 12 banks, strengthening the platform's readiness for practical banking workflows, electronic document handling, audit trails, and bank-to-bank coordination.

2026
Current phase

Adoption and pilot expansion phase

GreenLC is now positioned for PoC-led adoption, bank onboarding, and corridor-based implementation aligned with Bangladesh Bank's digital trade direction.

Proof & credibility

Built with banks. Shaped by real trade-finance workflows.

GreenLC is not a concept note. It is the result of years of product development, regulatory engagement, bank discussions, consortium-building, and PoCs.

12-bank PoC experience

GreenLC has been tested with 12 banks across digital LC and related trade-document workflows.

Bangladesh-first position

GreenLC established SSCL's early leadership in blockchain-enabled LC modernization in Bangladesh.

Domain depth

Experience across trade finance automation, document processing, regulatory reporting, banking workflow, AI-assisted extraction, and secure on-prem / private-cloud delivery.

Local implementation capability

Built by a Bangladeshi technology team with direct understanding of local banking operations, Bangladesh Bank requirements, and importer/exporter realities.

SSCL
Spectrum Software & Consulting Ltd.
A Bangladeshi software company focused on reliable, secure, and bank-ready technology products.
Trade finance automation Supply chain finance Regulatory reporting Document intelligence Monitoring systems Financial-sector platforms
Built by SSCL

Locally developed technology for nationally important financial infrastructure

Spectrum Software & Consulting Ltd. is a Bangladeshi software company focused on reliable, secure, and bank-ready technology products.

SSCL works across trade finance automation, supply chain finance, regulatory reporting, document intelligence, monitoring systems, and financial-sector workflow platforms. GreenLC reflects SSCL's long-term commitment to building locally developed technology for nationally important financial infrastructure.

Learn more about SSCL
Let's talk

Let's build Bangladesh's digital trade future together

GreenLC is ready for serious discussion with banks, regulators, implementation partners, and institutions working toward secure, interoperable, and locally relevant digital trade infrastructure.

Contact SSCL