GSBN, together with IQAX and ICE Digital Trade, connects shipping lines, corporates, and banks in a live transaction demonstrating real-world scalability of digital trade finance

Hong Kong & London, 12 January 2026 — 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.”

ENDS

About GSBN
The Global Shipping Business Network (GSBN) is a neutral, not-for-profit consortium whose mission is to enable paperless, accessible and sustainable growth in global trade with its data infrastructure and ecosystem of partners. GSBN facilitates trusted collaboration between participants across the shipping industry to enable greater efficiencies, and paperless trade as well as supporting the shipping industry’s decarbonisation transition.

GSBN’s ecosystem includes shipping lines, terminals, banks, application developers and other consortia. The entire network accounts for more than half of the containers handled in the world.

www.gsbn.trade

About ICE Digital Trade
ICE Digital Trade provides paperless global trade management solutions which digitize, automate, and accelerate trade & post-trade operations, finance, logistics, compliance, and visibility. 70,000+ companies – including leading commodity producers and traders in the metals & minerals, agriculture, oil & gas, energy, and petrochemicals sectors, plus banks and chambers of commerce – use our digital trade solutions globally across all key shipping modes.

ICE Digital Trade is a part of Intercontinental Exchange, Inc. (NYSE: ICE).

About IQAX
IQAX is the digital trade intelligence company powering critical decisions across global supply chains. We help businesses act faster, build resilience and become more sustainable, by solving their most complex challenges. From IQAX eBL to digital twin, our solutions embed our deep industry expertise with a proprietary frontier technology stack incorporating IoT, blockchain, and AI. Our enterprise-grade solutions prioritise security, integration and interoperability, helping customers accelerate digital transformation. IQAX works with leading shipping lines, logistics providers, corporates, and financial institutions worldwide.
www.iqax.com

About Lenzing Group
The Lenzing Group stands for the responsible production of specialty and premium fibers based on regenerated cellulose. As an innovation leader, Lenzing is a partner of global textile and nonwoven manufacturers and drives many new technological developments. The Lenzing Group’s high-quality fibers are the raw material for a wide range of textile applications – ranging from functional, comfortable, and fashionable clothing through to durable and sustainable home textiles. TÜV-certified biodegradable and compostable Lenzing fibers are also ideal for demanding use in everyday hygiene applications.

The Lenzing Group’s business model extends far beyond that of a traditional fiber producer. Together with its customers and partners, Lenzing develops innovative products along the value chain, adding value for consumers. The Lenzing Group strives for efficient utilization and processing of all raw materials and offers solutions for the transition of the textile industry from the current linear economic system to a circular economy. In order to align its commitment to limiting man-made climate change with the goals of the Paris Agreement, Lenzing has a clear, science-based climate action plan that provides for a significant reduction in greenhouse gas emissions (Scopes 1, 2, and 3) by 2030 and a net-zero target by 2050.

Key Facts & Figures Lenzing Group 2024
Revenue: EUR 2.66 bn
Nominal capacity (fibers): 1,110,000 tonnes
Employees (full-time equivalents): 7,816

About New Golden Sea Shipping
​New Golden Sea Shipping, aka COSCO SHIPPING Lines Southeast Asia Branch (hereinafter referred to as “Company”), registered in Singapore, is a wholly owned subsidiary of COSCO SHIPPING Lines. Company performs the dual role of Liner and Regional Management. As the professional feeder arm of COSCO SHIPPING Lines in Southeast Asia region, Company operates more than 70 vessels with weekly capacity of more than 50,000 TEU. The service network covers Far East, Southeast Asia and South Asia. As the regional office, Company takes care of local offices in Singapore, Vietnam, Indonesia, Malaysia, Philippines, Thailand, India, Myanmar, Pakistan, Sri Lanka, Cambodia and Bangladesh.

About Dasheng
Jiangsu Dasheng Group Co.,Ltd was established in 1895. It is a state-owned group with 20 wholly-owned and holding subsidiaries, it has 7,000 employees, total assets of the group is around 4 billion RMB. Now the group is engaged in textile products,import/export business and culture related industries. With production bases in 3 provinces of China, it has become a large enterprise group with distinct main business and diversified industries, it ranks among the top 10 textile enterprises in China. Dasheng is the national high-tech enterprise and a national industrial heritage, and also known as the “Ivy” of Chinese textile.

About HSBC Holdings plc
HSBC Holdings plc, the parent company of HSBC, is headquartered in London. HSBC serves customers worldwide from offices in 57 countries and territories. With assets of US$3,234bn at 30 September 2025, HSBC is one of the world’s largest banking and financial services organisations.

About CZBank
China Zheshang Bank (CZBank) , headquartered in Hangzhou, Zhejiang Province, China, is one of the twelve nationwide joint-stock commercial banks in China. The Bank officially commenced its international trade business on August 18, 2004 and has maintained a significant market share in China. CZBank keeps a strategic focus on Zhejiang, which is a highly active and productive province in China in international trade, and steadily develops its businesses countrywide and worldwide.

Press Contacts

Edelman for GSBN
Winnie Li
+852 2837 4758
gsbnglobal@edelman.com

ICE Digital Trade
Nicholas Demetriou
+30 211 199 6972
nicholas.demetriou@ice.com

Edelman for IQAX
June Wong
+852 6986 5822
iqaxhk@edelman.com