According to the Daily Planet, Singaporean fintech startup Xalts announced the acquisition of Contour Network, a digital trade platform established by eight major banks including HSBC, Standard Chartered Bank and BNP Paribas. The acquisition price is as high as millions of dollars, consisting of cash and stocks. With the support of Accel and Citi Ventures, Xalts enables financial institutions to build and manage blockchain-based applications. Contour was launched in 2017 by a consortium of eight banks to digitize trade and is currently used by 22 banks and more than 100 global companies, including Tata Group and Rio Tinto Group.