Express

Large Singaporean Bank Completes First Blockchain Transaction

Ramsey Baker

Summary: The first blockchain-based financing transaction for the Singaporean branch of the CIMB Group has been completed, according to a report from Yahoo Singapore. CIMB Group, one of the largest investment banks in Singapore, used iTrust Trading’s blockchain-based Internet of Things (IoT) platform in an attempt to decrease the risks that come with commodity trade financing ...

The first blockchain-based financing transaction for the Singaporean branch of the CIMB Group has been completed, according to a report from Yahoo Singapore.

CIMB Group, one of the largest investment banks in Singapore, used iTrust Trading’s blockchain-based Internet of Things (IoT) platform in an attempt to decrease the risks that come with commodity trade financing and facilitate credit extension for their customers. This route gives CIMB the ability to monitor cargo data in real-time.

By Ramsey Baker

Last Update:

Tags: ,,,
Link: Large Singaporean Bank Completes First Blockchain Transaction   [Copy]
  • Will Introduction of the Stablecoin Act Trigger a Financial Tsunami? 3 hours ago
  • Trump Just Opened the Floodgates: What Happens When $9 Trillion in Retirement Money Hit... 3 days ago
  • US Crypto Stash Shock: Marshals' Low BTC Count Fuels 'Secret Sale' Debate, Ignites Buyb... 4 days ago
  • Mini Altcoin Season Brewing? Old Guard's Rally Signals Potential Shift 6 days ago
  • New All-Time High for BTC: Weekly Market Outlook & Strategy 7 days ago
  • You need to login to comment.