The $25 million transaction, priced off Secured Overnight Financing Rate (SOFR) averages, is an industry milestone as the global interbank offered rate (IBOR) transition gathers pace.
Digital solutions providers such as Surecomp are embracing the move that will allow companies to electronically transfer trade documents for improved efficiency and cost savings.
The provider of global trade finance offerings for banks and corporates has signed up Siam Commercial Bank to its solutions for integrated, straight through digital trade finance processing.
A new suite of trade finance products and services from Standard Chartered will help clients meet environmental, social and governance (ESG) related sustainability objectives and build more resilient supply chains.
A recent deal between Hong Kong online shopping portal HKTVmall and HSBC demonstrates how the e-commerce sector is poised to gain from the digitalisation of trade finance.
