StanChart makes its first S'pore trade finance deal on blockchain
The technology streamlines documentation process and provides security and transparency for participants
Singapore
STANDARD Chartered's Singapore unit has pulled off its first cross-border trade finance transaction on a blockchain-based platform, after previous initiatives by other arms of the global lender.
StanChart tapped startup Distributed Ledger Technologies' platform to complete an agri-business supply chain deal in one day, instead of the normal five to seven, the bank announced on Thursday.
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