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Standard Chartered has launched a joint initiative with Linklogis. The latter is a promising blockchain finance tech solution from China. Together, they are building Olea, a trade finance origination and distribution platform.
The two firms have worked on developing the new digital trade finance platform. Furthermore, the platform leverages blockchain technology. This platform aims to give institutional investors an alternative asset class. Their plan is to lure in businesses that require supply chain financing. The platform should be operational by the end of 2021 or as soon as they get regulatory approval.
Olea will have its headquarters in Singapore. Amelia Ng (SC Ventures, the innovation, fintech, and ventures unit of Standard Chartered) will steer the platform as CEO. The deputy CEO will be Letitia Chau (Vice-Chairperson and Chief Risk Officer of Linklogis).
Superior Investment Options
Olea offers investors access to investment options for returns that match their risk profiles. It provides open, faster, and simple access to working capital. And, supply chain participants should benefit from it, regardless of magnitude.
According to Ng, Olea is unique and will transform trade finance. Investors should expect the best through the collaboration of Standard Chartered’s international trade, Asia’s unique knowledge, and risk management expertise. This also includes the Middle East and Africa with Linklogis’ innovations in supply chain technology. Olea plans to reinvent the current trade finance design. They want to match the suppliers’ financing needs with alternative liquidity. Investors seeking a compelling asset class linked to the real economy will benefit.
Chau said that Standard Chartered is one of Linklogis’ institutional shareholders and an essential strategic partner. Standard Chartered and Linklogis worked on many successful projects together. Their new venture offers an agile and robust platform. By using blockchain and AI technology, they can drive exceptional efficiency and transparency. Lastly, suppliers should find an inexpensive and superior financing options in their initiative.
Standard Chartered and Linklogis
Standard Chartered and Linklogis teamed up in the first trimester of 2019. The two firms signed a memorandum of understanding to explore better opportunities. Standard Chartered wanted to upgrade its supply chain financing proposition and boost client relationships in China.
In the same year, they completed their first joint deep-tier supply chain financing transaction. Since then, the two have successfully executed several other award-winning transactions. Last year, Standard Chartered made a strategic investment into Linklogis. The move marked its first investment in a supply chain platform in China.
Alex Manson, who heads SC Ventures, noted that trade financing is essential for sustainable economic growth. More so, since many businesses are emerging from the pandemic and lockdowns. Moreover, Olea brings the strength of the two parent companies.
The platform is the next generation of supply chain financing that ensures transparency and risk assessment of trade assets. Manson added that it would fulfill institutional demand for alternative investments.