CIMB Bank Berhad’s Singapore Branch Conducts Blockchain-based Structured Trade Finance Transaction on iTrust’s Platform

By Omar Faridi
The Singapore division of CIMB Bank Berhad carried out a structured trade finance transaction on a blockchain-based and internet of things (IoT) platform, developed by iTrust.
The transaction reportedly involved the financing of Chinese imported dairy products and may generate yearly transaction flows of approximately $100 million.
iTrust’s management said that all data and documents from the transaction reside on the blockchain for provenance and immutability.
Mak Lye Mun , CEO a…

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