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Trafigura pilots US$20m trade on Singapore blockchain platform

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DBS' Ms Tan says the initiative means that customers will be able to receive their goods at least 50% faster, with much less paperwork.

Singapore

A NEW blockchain platform meant to tackle the perennial problems behind the trillion-dollar trade finance market has been developed in Singapore among partners including commodity trading giant Trafigura and DBS, with a US$20 million pilot trade to be transacted via it.

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