| Shanghai will open a pilot online cross-border commodities financial services platform in the Free Trade Zone in February, using electronic warrants and digitalized technology. The platform has already signed up well-known names, including MasterCard, Singapore’s DBS Bank, Malaysia-based CIMB Bank, Bank of Shanghai and local payment provider ValuePay.
The new system will allow commodities companies registered in the zone to use e-warrants instead of physical documents. It will match companies with commercial banks for lower interest rate loans and insure transparency of transactions in a global network, according to Commodity Info-Tech (Shanghai) Co, which will operate the platform............................................Full Article: Source
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