Fraud in $4 trillion trade finance turns banks to digital ledger

Singapore/Hong Kong: The risk posed by fraud in the $4 trillion trade-financing industry has prompted banks to start exploring distributed-ledger technology like the one that underpins bitcoin. Standard Chartered Plc, which lost almost $200 million from a fraud at China’s Qingdao port two years ago, has teamed up with DBS Group Holdings Ltd to develop…

Trade Finance – Creative Funding Option for Internationally Active Companies

As businesses continue to source overseas suppliers and open up new markets for their products, the impact on cash flow cannot be underestimated. Companies are now looking beyond traditional bank financing such as an overdraft to more creative methods that allow funding to be provided off the back of existing trade cycles. Businesses can then…

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