DBS Bank: Unveiled trade finance blockchain project

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DBS Bank: Unveiled trade finance blockchain project

DBS Bank: Unveiled trade finance blockchain project, the ICC TradeFlow platform

  • DSB partnered with a group of vendors and government bodies to develop the project
  • The bank has joined by Trafigura, IMDA, ICC, and also tradetech company Perlin
  • ICC TradeFlow will also connect trade partners across borders and streamline manual paper-based trade processes to improve trade flows
  • The platform’s pilot trade of $20m worth of iron ore will shipped from Africa to China in November
  • The platform built on IMDA’s TradeTrust network infrastructure and also powered by Perlin’s blockchain technology
  • It has designed to be interoperable with existing and future digital trade platforms