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Banks turn to digital ledger amid fraud in US$4t trade finance

Tuesday, May 24, 2016 - 05:50

Singapore

THE risk posed by fraud in the US$4 trillion trade-financing industry has prompted banks to start exploring distributed-ledger technology like the one that underpins bitcoin.

Standard Chartered Plc, which lost almost US$200 million from a fraud at China's Qingdao port two