HONG KONG (Reuters) – Hong Kong and Singapore’s de facto central banks unveiled plans on Wednesday to link trade finance platforms they are developing with blockchain technology, to reduce potential fraud and errors in the multi-trillion-dollar funding of international trade.
The Hong Kong Monetary Authority (HKMA) together with banks including HSBC Holdings (LON:HSBA) PLC and Standard Chartered(LON:STAN) PLC tested late in 2016 the use of distributed ledger technology (DLT), also known as blockchain, to build a trade finance platform. Singapore is also developing a platform…
Read Full: Hong Kong, Singapore to link up trade finance blockchain platforms
