CrediPort, Capital4Trade, and WaveBL complete first fully digital three-corner electronic letter of credit

CrediPort, Capital4Trade (C4T), and WaveBL have announced the successful completion of a joint proof of concept for a private electronic letter of credit (eLC). This is the first fully digital three-corner eLC model connecting a buyer, seller, and single financier from credit creation through document examination and discrepancy handling.

Gadi Ruschin, CEO of CrediPort, said, “Documentary trade finance has significant potential to support more businesses, but the operational complexity can make it difficult to deliver economically.”

“Working with Capital4Trade and WaveBL, we have demonstrated a simpler digital approach that we believe can help banks and non-bank financiers expand their offering. We look forward to building on this work with financing partners to make documentary credit more accessible to buyers and suppliers.”

How the Digital eLC model works

In this model, CrediPort handles the eLC and examination process, while WaveBL supplies the electronic bill of lading (eBL) and secure digital document infrastructure.

This streamlines the digital workflow, removing many manual processes typically found in documentary trade finance.

The proof of concept utilised documents from a Spain–US shipment. Capital4Trade contributed the trade relationship, financing perspective, and commercial documents. WaveBL supplied the electronic bill of lading, and CrediPort created the eLC terms from a pro forma invoice.

The test included three document submissions and two compliance examinations, featuring a second review of a revised commercial invoice. On 17 September, the team identified, documented, and resolved discrepancies within hours, showing the efficiency of the digital process.

Ernesto A. Vila, Co-Founder of Capital4Trade, said, “Trade finance works best when financing, logistics, and document control are connected rather than handled in separate silos. This proof of concept shows how C4T can bring the commercial relationship and financing together with digital documentary controls, giving both buyers and sellers greater transparency while allowing capital to move against verified trade events.”

“We see this as an important step toward making documentary trade finance faster, more accessible, and better suited to the way global trade operates today.”

Ofer Ein Bar, VP Financial Institutions at WaveBL, also said, “Trade finance needs both capital and trust. By combining WaveBL’s trusted digital originals, CrediPort’s AI-powered document examination, and Capital4Trade’s financing expertise, we enable non-bank financiers to get the trust so needed and better manage risk. This is a significant step toward end-to-end digital financing with fewer handoffs, faster decisions, and a path to real-time execution.”

Benefits for stakeholders

For Capital4Trade, the model offers a way to extend its financing relationships into documentary credit services. The system ensures agreed conditions, digital evidence of shipments, detailed compliance findings, and clear decisions on exceptions. This allows C4T to provide clients with letter of credit-style assurance while reducing manual paperwork and streamlining processes.

WaveBL provides a secure electronic original and presentation channel in the financing process, ensuring document authenticity and security throughout the transaction. CrediPort transforms credit conditions and presented documents into a structured review and decision record, streamlining compliance.

Together, the model gives buyers visibility and control over exceptions. To sellers, the model gives faster feedback and a route to financing against the buyer’s credit, and helps financiers act on verified shipment documents.