Topping

Digitizing Trade Financing in SEA with Blockchain

Trade financing, which has been around since the inception of international commerce, is arguably the oldest aspect of the modern global trading framework. Through the provision of financial instruments that facilitate the execution of cross-border trading, trade finance plays a critical role in supporting the real economy. Based on statistics compiled by the World Trade Organization (WTO), about 80-90% of global trade is undertaken through trade financing. In Southeast Asia (SEA), the region has come a long way since the 1997 Asian financial crisis, which at its peak brought about a 25% reduction in the region’s trade financing volume over 12 months from US$20 billion in June 1997 to US$15 billion in June 1998.

Author:BeeCast
2020-01-02 10:34
4299
  • SEA
Load more