According to the local media business times in Singapore, Singapore's largest bank, Development Bank of Singapore (DBS), has announced a long-term financing solution 'Rong E-Lien' on the blockchain platform of its own logistics industry. Rong-E Lian.
The solution aims to finance transactions within the trading industry within 24 hours, and DBS says that even small and medium-sized companies that lack the size or credit to use the services of traditional banks can participate.
It is known as that DBS's 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.
DBS has partnered with China's blockchain startup SF Group to launch the solution. "The transparency of blockchain-based information provides additional protection against potential data manipulation," said Ginger Cheng, president of DBS China.