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Singapore-based fintech Xalts acquires digital trade platform Contour Network
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 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. Terms of the deal were undisclosed.
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. If a financial institution decides to build applications to make the process more efficient, they usually ask their IT teams or external software service providers, but that can cost a lot of money and take months. Transactions often take a lot of time as everyone involved, including importers, exporters, banks, logistics companies and customs, swap information in a mostly manual process.
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