The partnership provides Contour customers another option for electronic bills of lading to be used in synchronisation with their Contour trade finance transaction.
The TFR aims to serve as a secure central database for the banking industry to access records of trade transactions financed across banks in Singapore.
The web-based Marketplace platform provides a single point access to these and numerous other innovative applications within the wider trade finance ecosystem.
Blockchain technology’s decentralised ledger could remove the risk of a central point of failure and in doing so, bring wider benefits to global trade finance networks.