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Trafigura pilots US$20m trade on Singapore blockchain platform

    Published Wed, Nov 6, 2019 · 09:50 PM

    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.

    The open-sourced blockchain platform - known as the ICC TradeFlow platform - will facilitate this month a Trafigura shipment of iron ore from Africa to China, a press release from DBS on Wednesday said.

    TrafiguraDBSBlockchain

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