As per the latest reports on Aug. 30, 2021, the UK-based multinational banking firm Standard Chartered (StanChart) has introduced its blockchain trade finance through a joint venture with Linklogis, a Chinese supply chain finance technology provider.

Known as Olea, the fully digitized platform is focused on fulfilling the requirements of institutional investors who are looking for opportunities in an alternative asset class with organizations in need of supply chain finance, as per the reports.

Headquartered in Singapore, the blockchain trade finance platform Olea will be operated by Amelia Ng (SC Ventures, the innovation, fintech, and ventures unit of Standard Chartered) as CEO and Letitia Chau (Vice-Chairperson and Chief Risk Officer of Linklogis) as deputy CEO.

Olea’s stringent risk analytics and safe platform facilitate investors' admittance to venture options for returns that match with their risk profiles. It gives a drastically straightforward, speedier, and stress-free way to access working capital for supply chain members regardless of size.

According to Ng, “By considering Standard Chartered’s global trade and risk management expertise and unmatched information on Asia, Africa and the Middle East with Linklogis' advancements in supply chain technology, Olea is well-positioned to restructure trade finance and bring a compelling power for good. Olea focuses on disturbing present trade finance structure by aligning suppliers’ requirements with alternative liquidity from investors looking for a compelling asset class associated with the real economy.”

According to Chau, “Standard Chartered is not only one of Linklogis’ institutional shareholders, but it is also an essential strategic partner. Since 2019, Standard Chartered and Linklogis have achieved many activities together. The new joint endeavor, Olea, offers an agile and solid platform, by using blockchain and AI technology to bring quality proficiency and straightforwardness for providers looking for reasonable and advantageous financing. ”

Investors now can get a wide range of trade finance assets worldwide - and especially in Asia - with solid experiences on resource quality, while supply chain accomplices can access financing via transparent and frictionless cycles.

As per Charles Song, Founder, Chairman, and CEO of Linklogis, “The advent and utilization of rising advancements have turned into a significant main force for the worldwide economic change, and innovations are being executed in many fields, for example, trade finance and supply chain finance. Linklogis, as China’s biggest innovation arrangement supplier for store network finance, can bring its first-class operating encounters and industry-leading innovations into Olea. We accept that the joint effort between the two organizations can take the lead in working on an adaptable, reasonable, and scalable supply chain financing business recommendation.”

Alex Manson, head of SC ventures, “Trade, and according to trade financing, are fundamental for feasible economic development, even more so as organizations rise out of pandemic and lockdowns. Olea unites the qualities of Linklogis and Standard Chartered in this space and addresses the next generation of supply chain financing, facilitating transparency and risk assessment of trade assets while satisfying institutional interest for alternative investment.”

Standard Chartered and Linklogis' relationship started in February 2019 when the two organizations signed a memorandum of understanding to investigate the co-production of an advancement arrangement that will uphold the supply chain finance ecosystem. They finished their first joint deep-tier supply chain financing transaction in August 2019, and have effectively executed a few other award-winning1 transactions to date. In January 2020, Standard Chartered declared an essential interest in Linklogis, which denoted its first investment in a supply chain platform in China.

About Standard Chartered

We are a leading international banking group, with a presence in 59 of the world’s most powerful markets, and serving customers in further 85. The main agenda is to bring business and success through our innovative variety, and our legacy and qualities are communicated in our brand promise, Here for great.

Our history in the US traces back to 1902, and we are as of now present in eight areas throughout America. Our Americas establishment centers around financial institutions and select corporations and assumes a vital part in working with trade and investment flows between America and Asia, Africa, and the Middle East. Standard Chartered PLC is recorded on the London and Hong Kong Stock Exchanges.

About Linklogis

We are the leading supply chain financing technology solution provider in China, focusing on reestablishing and changing supply chain finance through innovations and advancements. Our cloud-native solutions streamline the payment pattern of supply chain transactions, digitize the entire work process of supply chain finance, and improve transparency and availability in the supply chain ecosystem, thereby helping the real economy. The company is listed on the Hong Kong stock exchanges, as the first listed China supply chain finance technology SaaS enterprise.

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