Singapore's DBS Bank has launched a blockchain-based, multi-tiered financing facility designed to offer faster access to trade financing for small and medium-sized businesses in China. The blockchain platform, Rong-E Lian, will be assimilated with DBS' digital onboarding service which necessitates facial biometric authentication to allow access to the platform. The first successful transaction on the Rong-E Lian platform was completed in the weeks.
Singapore's DBS Bank has launched a blockchain-based, multi-tiered financing facility designed to offer faster access to trade financing for small and medium-sized businesses in China. The blockchain platform, Rong-E Lian, will be assimilated with DBS' digital onboarding service which necessitates facial biometric authentication to allow access to the platform. The first successful transaction on the Rong-E Lian platform was completed in August, 2019.