Singapore Bank Claims First Regional Use of Blockchain Tech for Remittance
The Oversea-Chinese Banking Corporation (OCBC), a publicly-listed banking corporation headquartered in Singapore will begin inter-bank payments powered by blockchain technology in Southeast Asia. The announcement, revealed by regional publication FintechNews Singapore, follows a successful duo of pilot payment transactions conducted between the bank and a regional and an international banking partner. The pilot utilized a blockchain platform jointly developed by OCBC Bank and BCSIS, a local payments startup in Singapore. Two blockchain pilot payment transactions were revealed. First, a....
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