Ecuador is the world's largest banana exporter and a major shrimp producer — both flowing heavily to Chinese buyers. Despite Ecuador's dollarised economy (no FX risk), settlement through Quito/Guayaquil banks routes via US correspondent intermediaries where Latin American-origin commodity payments face enhanced AML screening. Result: 10-20 day delays on legitimate trades. LCORE's gold DVP: Chinese buyer deposits gold in Abu Dhabi, bananas or shrimp ship from Guayaquil, delivery confirmed, gold releases in 2-3 days.
Request ConsultationWhen USD* payments are blocked by correspondent banking compliance, LCORE's gold DVP provides a neutral Abu Dhabi alternative. Ecuadorian oil exporters can deposit physical gold into DVP escrow -- commodity delivers -- payment in USD* confirms -- gold releases. 2-3 working days.
ADGM English Law governs. Lloyd's $200M insurance throughout. UAE geopolitically neutral -- not subject to US, EU, or UK sanctions regime.
Confidential. Min $5M. ADGM 28158.
Ecuador is the world's largest banana exporter, accounting for approximately 30% of global banana trade — predominantly Cavendish variety from Los Ríos, Guayas, and El Oro provinces shipped to Europe, Russia, and the United States. Shrimp and prawns from coastal aquaculture operations place Ecuador among the top three global shrimp exporters, with China, EU, and US as primary buyers. Roses and cut flowers represent Ecuador as the world's third-largest flower exporter, supplying Dutch and US wholesale markets. Crude oil from the Oriente Basin (Petroamazonas and private operators) provides approximately 500,000 barrels per day, shipped through the SOTE pipeline to Esmeraldas terminal. Cocoa — particularly Arriba/Nacional fine-flavour variety — serves premium European chocolate manufacturers. Tuna from Pacific fishing operations targets European canning markets. Gold and silver from artisanal and industrial mining in Azuay, El Oro, and Zamora Chinchipe provinces add mineral exports. Ecuador's full dollarisation since 2000 eliminates domestic currency risk but creates dependency on USD correspondent banking access for all international settlements.
Ecuador is fully dollarised — the USD replaced the sucre in 2000 following a severe banking crisis. This eliminates FX risk domestically but creates a structural dependency on US correspondent banking for all international settlements. Ecuador's commodity traders must route all USD payments through US correspondent banks, which apply heightened AML scrutiny to Ecuadorian-origin transactions due to concerns about narcotics proceeds in the banana and shrimp export sectors. Gafilat (Latin American FATF equivalent) compliance assessments have flagged Ecuador's trade-based money laundering vulnerabilities. Several Ecuadorian banks have had USD correspondent accounts restricted or subject to enhanced due diligence. Ecuador's sovereign credit rating and repeated IMF program negotiations further restrict trade finance availability. Shrimp and banana exporters dealing with Chinese buyers face additional SWIFT friction because Chinese buyers' USD payments from Chinese banks face US correspondent scrutiny. LCORE's gold DVP enables Ecuadorian exporters to secure payment confirmation in Abu Dhabi before or upon delivery, using gold collateral rather than relying on USD SWIFT transfers that may be delayed by US bank compliance reviews.