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]
Next:

Related Articles

  • From Data Rights to Digital Property: Whistleblower Brittany Kaiser on Blockchain, RWA,... 3 days ago
  • The Base Chain's Ascent: How Deep Coinbase Integration and JPMorgan's Pilot Are Reshapi... 9 days ago
  • Tether in Trouble? U.S. Senate Just Passed a Law That Could Dethrone the $155B Stableco... 12 days ago
  • Justin Sun's Nasdaq Gamble: How Six Years Forged Ties with the Trump Family 13 days ago
  • The Crypto IPO Wave: From Fringe to Front Page 16 days ago

    • You need to login to comment.