CIMB Bank Singapore completes first trade finance transaction using blockchain

CIMB Bank Berhad’s Singapore office has completed a structured trade finance transaction on a blockchain and Internet of Things (IoT) platform provided by iTrust.

CIMB completes the blockchain transaction

The transaction included the financing of dairy products imported into China and is expected to generate transaction flows of up to US $ 100 million per year.
According to iTrust, all documents and data from the transaction are stored on the origin in the blockchain and …

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