DBS Bank joins HSBC, ING in Contour trade finance blockchain

12 May 2020

Today, DBS Bank joined the Contour trade finance blockchain network to streamline letter of credit transactions for its customers, a Business Times report said. Previously known as Voltron or Letter of Credit blockchain, Singapore-based Contour had a beta launch earlier this year.

As of 2019, DBS Bank had total assets of S$579 billion ($409 billion) and is among Asia’s top banks. It has deep experience in leveraging blockchain for trade finance. DBS is also the first Singapore bank to join the Contour blockchain, which is digitizing the letter of credit processes such as creation, exchange, approval, and issuance.

Read more at Ledger Insights, here.

 

DBS Bank joins HSBC, ING in Contour trade finance blockchain

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