SEA Deal Ticker
A letter of credit still moves on phone calls: PILA and TOTM digitise Vietnam–Singapore trade
The pair signed an MoU to verify letters of credit with digital credentials, replacing multi-day SWIFT checks and manual reconciliation. PILA runs Vietnam's layer through NDAKey; TOTM integrates Singapore's TradeTrust, with product passports planned across three markets.
Positive-sum angle: Rails built as a verification layer beside SWIFT rather than a replacement let the smallest exporter on the corridor use them without waiting for a bank to migrate.