U.S. Bank has completed its first trade finance collection transaction using a fully digital process, marking a step forward in the bank’s efforts to modernize trade and working capital services for clients. U.S. Bank is the first American bank to utilize the blockchain-based WaveBL, which supports encrypted document transfers between trading partners and their banks. “Our clients are looking for smarter, more efficient ways to manage their import and export activities,” said Christine Bravo, Senior Vice President, U.S. Bank. “This fully digital process is a step toward delivering the speed, transparency and reliability businesses need in today’s trade environment.” In this transaction, U.S. Bank served as the presenting bank for the exporter, a large U.S.-based publicly traded firm. Container shipping company MSC Mediterranean Shipping Company issued the electronic bill of lading and facilitated the shipment. Previously, a transaction like this would have required a courier to physically transport documents across continents, often taking several days. By contrast, the digital process reduced that timeline to minutes–eliminating delays, enhancing security and compliance, and avoiding disruptions from weather, pandemics, or geopolitical events. The shift toward digital documentation in trade and working capital is accelerating as businesses look to cut costs, reduce delays and enhance transparency. This initiative demonstrates how digital tools can streamline import and export trade transactions by lowering courier and storage expenses and minimizing the risk of lost or delayed paperwork.