Standard Chartered (SC) has launched a blockchain-based Digital Trade Finance platform in a joint-venture (JV) with Linklogis.
Linklogis is a Chinese Supply Chain Finance Technology company.
Standard Chartered announced the partnership on August 30 in a press release.
The idea is to combine SC’s trade finance and risk management expertise with Supply Chain Technology developed by Linklogis.
Their JV will be called Olea.
Olea will be headquartered in Singapore. It will be led by Amelia Ng from SC Ventures as CEO and Letitia Chau (Vice-Chairperson and Chief Risk Officer of Linklogis) as deputy CEO.
Linklogis’ and Standard Chartered’s business propositions in the partnership
SC will offer its international trade and risk management expertise and its knowledge of Asia, Africa, and the Middle East. It will enable Olea to provide liquidity to supply chain stakeholders.
Linklogis optimizes the payment cycle of the supply chain, digitalizes the workflow of supply chain finance, and enhances transparency and connectivity in the supply chain finance ecosystem. Therefore it supports the real economy.
The vision of Olea’s leaders
“The new joint venture, Olea, offers an agile and robust platform, using blockchain and AI technology to drive exceptional efficiency and transparency for suppliers seeking affordable and convenient financing,” said Chau.
Ng said, “Olea aims to disrupt today’s trade finance model by matching suppliers’ financing needs with alternative liquidity from investors seeking a compelling asset class linked to the real economy.”
Olea can provide finance and analytics in the supply chain
Olea’s risk analytics and secure platform will offer investors access to investment options for returns aligning with their risk appetite. This will enable transparent and hassle-free access to working capital for supply chain participants regardless of size.
Investors will gain access to a full range of trade finance assets globally, particularly in Asia, with insights on asset quality. Simultaneously, supply chain partners access funds via transparent and frictionless processes.
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