DBS, StanChart lead industry workgroup to pilot trade finance registry

SINGAPORE - DBS and Standard Chartered have jointly led a workgroup of 12 other banks to create and conduct a proof-of-concept for a digital Trade Finance Registry .

The TFP POC aims to serve as a secure central database for the banking industry to access records of trade transactions financed across banks in Singapore, DBS said. Sam Mathew, global head of documentary trade at StanChart, noted that driving sustainable trade finance growth and managing risks are core to the bank's strategy. He added that the POC was also delivered in"record time" from concept to testing.

Said Satvinder Singh, Enterprise Singapore's assistant chief executive officer:"By working with dltledgers, a local company specialising in blockchain technology, the industry workgroup was able to accelerate the development of a neutral and secure platform to ease the flow of information between banks and prevent duplicate financing."

México Últimas Noticias, México Titulares

Similar News:También puedes leer noticias similares a ésta que hemos recopilado de otras fuentes de noticias.

Former transport minister becomes new Thai finance ministerFormer transport minister becomes new Thai finance minister
Fuente: ChannelNewsAsia - 🏆 6. / 66 Leer más »

Thai King approves new finance minister to tackle economy amid pandemicBANGKOK (REUTERS) - Thailand's King has approved Arkhom Termpittayapaisith as the country's new finance minister, the official Royal Gazette said, handing him the task of steering Southeast Asia's second-largest economy through the coronavirus pandemic.. Read more at straitstimes.com.
Fuente: The Straits Times - 🏆 8. / 63 Leer más »