DBS speeds up trade financing for SMEs in China with blockchain platform

DBS speeds up trade financing for SMEs in China with blockchain platform

SINGAPORE – DBS Bank on Wednesday (Sept 11) launched its first multi-tier financing facility on a logistics blockchain platform to help small and medium-sized enterprises (SMEs) in China get faster access to trade financing. With this technology, trade financing can be provided in 24 hours, compared with the weeks and months using the traditional paper-based approach, said DBS.