Trade Finance
SWIFT and Singapore’s IMDA to Accelerate Global Trade Digitalisation
SWIFT and Singapore’s Infocomm Media Development Authority (IMDA) has signed a Memorandum of Intent (MOI) to accelerate trade digitalisation globally. The MOI looks at offering SWIFT’s community a more efficient and cost-effective cross-border paperless trade, without the need for multiple
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IBM and Thai Blockchain Community Revamps Electronic Letter of Guarantee Platform
IBM and the Thailand Blockchain Community Initiative (BCI) jointly announced that its electronic letter of guarantee (eLG) platform and network is now extending the scope and reach of its services and network to businesses of all sizes. The extended capabilities
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Standard Chartered Thailand: First Blockchain Based Cross-Bank Letter of Credit
Thailand’s Standard Chartered completed its first cross-bank Letter of Credit (LC) transaction between Vietnam and Thailand conducted over blockchain between Vietnam and Thailand. The transaction was done in partnership with Asian Development Bank (ADB) and the Bank for Investment and
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Banks View Digitising Trade Finance as a Top Priority
Around the world, banks are reconsidering their trade finance business model, viewing digitalization as one of the most important trends that will shape the industry in the coming years, according to a new survey. The International Chamber of Commerce (ICC)
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Infor Partners DBS Bank For Digital Trade Financing
Infor, a cloud software company, is partnering with DBS Bank to integrate digital trade financing capabilities into the its global network of more than 68,000 businesses. Their first joint program recently went live with one of the world’s largest global
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Contour and DBS Ties up in a Push for Blockchain Trade Finance
Contour, the blockchain trade finance network that’s formerly known as Voltron has partnered with DBS Bank to push the digitalisation of trade finance with the completion of the network’s first fully digital end-to-end secured Letter of Credit (LC) between Nanjing
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How Blockchain Is Bringing Transparency and Improved Efficiencies in Seafood Value Chains
Blockchain technology, one of the most discussed technologies of the past couple of years, is set to substantially transform the traceability landscape and stakeholder behavior along the value chain in fisheries and aquaculture, according to a new report by the
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SMU and Tradeteq to Develop Quantum Computing Credit Scoring for Trade Finance
Singapore Management University (SMU) and Tradeteq will be embarking on a project which aims to develop quantum computing-based credit scoring methods for companies. This project is supported by the Monetary Authority of Singapore under the Financial Sector Technology & Innovation
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ICC’s Digital Trade Standard to Promote Blockchain Interoperability
ICC has launched the Digital Trade Standards Initiative (DSI) – a collaborative cross-industry effort to enable the standardisation of digital trade. The ICC Digital Trade Standards Initiative (DSI) will build on work done by various like-minded initiatives, many of which
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Singapore’s New Digital Trade Platform Sees First Transaction from DBS and Audi
Advancing Singapore’s trade digitalisation agenda, DBS Bank, in collaboration with Audi Singapore (Audi) and Audi’s local distributor, Premium Automobiles (Premium), completed the first trade financing transaction on Singapore’s Networked Trade Platform (NTP). The inaugural trade relates to a SGD3.5 million
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