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DBS launches first multi-tier financing facility on logistics blockchain platform

September 11, 2019 / VIVIEN SHIAO

DBS Bank on Wednesday launched its 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. With this technology, trade financing can be provided in 24 hours, compared with the weeks and months using the traditional paper-based approach, said DBS. 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.