Two outfits try to rally investors to drive sustainable trade finance
Standard Chartered, a top-tier international banking group, has teamed up with China’s primary supply chain fin-tech solution provider Linklogis to offer new experiences to customers.
The two companies announced on Aug. 30 a joint venture to establish Olea, a fully-digitized trade finance origination and distribution platform.
They said that Olea aims to bring together institutional investors seeking opportunities in an alternative asset class with businesses requiring supply chain financing, subject to regulatory approval.
Olea will be based in Singapore. Amelia Ng from SC Ventures will head the outfit as CEO, and Linklogis Vice-Chairperson Letitia Chau will assume the deputy CEO job.
Standard Chartered said that Olea’s rigorous risk analytics and secure platform offers investors access to investment options for returns that align with their risk profiles.
The banking group hopes that Olea will be able to provide a transparent, speedier, and hassle-free way to access working capital for supply chain participants.
“By marrying Standard Chartered’s international trade and risk management expertise and unparalleled knowledge of Asia, Africa, and the Middle East with Linklogis’ innovations in supply chain technology, Olea is uniquely positioned to reinvent trade finance and be a force for good,” said Ng.
“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.”
Chau also pinned big hopes on the new joint venture.
“Standard Chartered is not only one of Linklogis’ institutional shareholders, but also an important strategic partner. Since 2019, Standard Chartered and Linklogis have accomplished many projects together,” Chau said.
“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.”