DBS Bank and Swiss Commodity Dealer Launch Blockchain Trading Platform in Singapore

According to Reuters, Singapore's DBS, Swiss commodity trader Trafig (ULFG.UL) and its partners have launched a blockchain trading platform in Singapore to reduce paperwork and improve trade flows. . DBS said on Wednesday that the first deal to be made on the ICC Tradeflow platform would be $20 million worth of iron ore cargo, which will be shipped from Africa to China this month.