StanChart’s Singapore Unit Completes First Blockchain-Powered Trade Finance Deal
Cointelegraph
Published Jan 24, 2019 09:28
Updated Jan 24, 2019 10:35
The Singapore unit of London-headquartered multinational banking and financial services firm Standard Chartered (LON:STAN) has completed its first blockchain-powered trade finance deal. The news was reported by Singapore’s English-language financial daily The Business Times on Jan. 24.
The bank reported that the blockchain solution — developed by blockchain startup Distributed Ledger Technologies — had enabled an agri-business supply chain deal to be completed within just one day, instead of the typical five to seven days.
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Written By: Cointelegraph
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