DBS Bank on Wednesday launched its first multi-tier financing facility on a logistics blockchain platform to help small and medium-sized enterprises in China get faster access to trade financing.DBS Bank on Wednesday launched its first multi-tier financing facility on a logistics blockchain platform to help small and medium-sized enterprises in China get faster access to trade financing.
The blockchain platform named Rong-E Lian was developed in partnership with an undisclosed Chinese logistics player believed to be SF Group, according to industry sources. It offers multi-tier financing solutions – or financing beyond the anchor company’s direct suppliers – to more than 1,000 suppliers in the company’s supply chain ecosystem. This includes SMEs which may have limited access to trade financing due to their lack of scale or credit history.
“The transparency of information that blockchain technology offers also serves as an added safeguard against potential data manipulation,” she added.
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