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Singapore, Singapore--(Newsfile Corp. - February 20, 2024) - Accel and Citi Ventures-backed fintech Xalts, which is used by financial

In a role reversal, Xalts, a Singapore fintech startup founded 18 months ago, has acquired Contour Network, a digital trade platform set up by eight major banks including HSBC, Standard Chartered and BNP. Backed by Accel and Citi Ventures, Xalts enables financial institutions to build and manage blockchain-based apps. Contour was started in 2017 by a consortium of eight banks to digitize trade and is currently used by 22 banks and more than 100 global business including Tata Group, Rio Tinto and SAIC.

Contour Network connects global banks to global businesses. Xalts will launch an application ecosystem for embedded trade finance solutions on top of Contour's rails. Singapore, Singapore--(Newsfile Corp. - February 20, 2024) - Accel and Citi Ventures-backed fintech Xalts, which is used by financial institutions and businesses to build and manage digital finance applications, has today announced its acquisition of Contour Network, owned by a consortium of global banks, to accelerate digitisation

Bringing you the latest news briefs on fundraising activities in the Asia Pacific.

HSBC’s Barry O’Byrne talks about transforming the mindset of the division from digital to digital-first through its approach to people, partners and technology.