- Agreement combines the reach, scale and security of SWIFT, and Singapore’s commitment to trade digitisation and international legal harmonisation
- The agreement will see SWIFT working with Singapore’s Infocomm Media Development Authority (IMDA)
- In the future, SWIFT’s community of more than 11,000 financial institutions and corporates in over 200 countries
- IMDA’s interoperability framework TradeTrust, which connects various platforms such as SWIFT, for the exchange of digital trade documentation
- TradeTrust provides proof of authenticity of documents and offers title transfer through open-source software
- DBS worked with SWIFT and IMDA to conceptualise a solution to facilitate the digital transmission of trade documents
