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DBS, StanChart lead banking group to develop digital trade finance registry

SINGAPORE, Oct 6 (Reuters) - DBS Group Ltd and Standard Chartered are leading a group of 12 other banks in Singapore to create and conduct a digital trade finance registry, to mitigate the risk of trade fraud, the two banks said in a statement on Tuesday.

The move by commodity trade financiers in Singapore to team up to improve industry transparency comes after a spate of defaults in the city-state this year. (Reporting by Anshuman Daga; Editing by Christian Schmollinger)

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