Citi recently launched the Citi Digital Bill (CDB), a digital bill of exchange aimed at transforming trade finance by eliminating paper-based processes and reducing transaction times. The new product allows suppliers to access receivable funds within an hour. As Sanjeev Ganjoo, Citi’s global head of trade receivable finance, remarked, CDB is “a groundbreaking shift away from long-standing paper” and improves security and access to capital. Citi has processed over US$6 billion through CDB so far and plans to expand globally in 2024.
Article by Felix Thompson for Global Trade Review. Read more here or download the PDF below.
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