DBS Bank announces partnership with Standard Chartered to create distributed ledger for trade finance

FinTech | December 17, 2015 By:

DBS Bank announced that it has partnered with Standard Chartered to create a distributed ledger project for trade finance.

Officials at both companies stated that they have completed initial testing for the idea, and that they are seeking to collaborate with other firms on the initiative in 2016.

Both banks have been reportedly investigating applications for the technology as early as May of this year.

DBS Bank is a Singaporean multinational banking and financial services company. Standard Chartered is a British multinational banking and financial services company headquartered in London.