DBS partners with Maptrasco to complete the first eBL transaction

DBS partners with Maptrasco to complete the first eBL transaction: DBS, in partnership with commodities trader Maptrasco, announced the completion of the first “live” transaction of electronic Bills of Lading (eBL) for shipments between Singapore and India.

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With this first shipment, businesses across Singapore and India can participate in the TradeTrust network via their respective choice of TradeTrust-enabled platforms to enable the digital trade finance of live shipments of goods between the two countries. The transaction was implemented under the TradeTrust framework, an initiative by the Infocomm Media Development Authority (IMDA) and supported by Enterprise Singapore.

This landmark first shipment marks a pivotal moment for businesses operating in both Singapore and India. It grants them the opportunity to engage with the TradeTrust network through their preferred TradeTrust-enabled platforms.