COSMIC, launching in May, requires banks to implement a number of safeguards to protect legitimate customers from having their information shared.
March 12, 2024Under the CBDC pilot programme, the bank will explore cross-border merchant payments, trade financing and supply chain financing.
November 28, 2023The first phase of the IADS initiative will be for corporate customers. The HKMA hopes to progressively extend it to retail bank accounts from June 2024 onwards.
November 2, 2023The changes will enable financial institutions, including foreign banks operating in Korea, to transfer foreign currency denominated debt to overseas entities.
September 23, 2023Supported by Enterprise Singapore, DBS Bank completed the transaction in partnership with Maptrasco using IMDA's TradeTrust framework.
August 30, 2023Participating banks can register new trade financing transactions and receive real-time notifications if instances of duplication are detected.
June 26, 2023The prototype was developed as part of Project Dynamo, a collaboration between BIS Innovation Hub and HKMA to explore the use of digital tokens in supply chain finance for SMEs.
June 9, 2023COSMIC will be rolled out in phases starting from H2 2024, enabling banks to alert one another about illicit activity involving their customers.
May 9, 202369.2% of vessels with unknown beneficial owners have engaged in risky or sanction-violating behaviour, report finds.
April 21, 2023Three senior executives of Balli Steel were sentenced to prison for using fake documents and contracts to obtain loans.
April 5, 2023