As per the latest news on Sept. 8th, 2021, Standard Chartered, a leading banking group, and Linklogis, a supply chain finance technology provider in China, have declared a joint venture to set up Olea. The fully-digitized trade finance origination and distribution platform are focused on catering to the requirements of institutional investors who are looking for opportunities in an alternative asset with businesses in need of acquiring supply chain financing.
The blockchain trade finance platform named Olea is headquartered in Singapore and 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
According to Ng, “By considering Standard Chartered’s global trade and proficiency in risk management as well as quality information about Asia, Africa, and the Middle East with Linklogis’s advancements in supply chain technology, Olea is well-positioned to restructure trade finance and introducing power for good.”
“Olea is focused on disrupting the existing trade finance structure by coordinating suppliers’ financing requirements with alternative liquidity from investors looking for a compelling asset class associated with the real economy.”
