for-phone-onlyfor-tablet-portrait-upfor-tablet-landscape-upfor-desktop-upfor-wide-desktop-up

DBS, StanChart lead banking group to develop digital trade finance registry

SINGAPORE, Oct 6 (Reuters) - DBS Group Ltd and Standard Chartered are leading a group of 12 other banks in Singapore to create and conduct a digital trade finance registry, to mitigate the risk of trade fraud, the two banks said in a statement on Tuesday.

The move by commodity trade financiers in Singapore to team up to improve industry transparency comes after a spate of defaults in the city-state this year. (Reporting by Anshuman Daga; Editing by Christian Schmollinger)

Breakingviews

Reuters Breakingviews is the world's leading source of agenda-setting financial insight. As the Reuters brand for financial commentary, we dissect the big business and economic stories as they break around the world every day. A global team of about 30 correspondents in New York, London, Hong Kong and other major cities provides expert analysis in real time.


Sign up for a free trial of our full service at https://www.breakingviews.com/trial and follow us on Twitter @Breakingviews and at www.breakingviews.com. All opinions expressed are those of the authors.

for-phone-onlyfor-tablet-portrait-upfor-tablet-landscape-upfor-desktop-upfor-wide-desktop-up