As per the latest news reports in the crypto world, the banking and financial services company Standard Chartered has reportedly collaborated with Linklogis on an initiative to launch a state-of-the-art trade finance platform. Linklogis is a Chinese SCF or supply chain finance technology solution provider which will help Standard Chartered in building a finance platform with Distributed Ledger Technology. This platform is likely to be named Olea.
Explaining the function of Olea, Standard Chartered said that it will be a trade finance distribution and origination platform which will be completely digital. With Olea, they will be able to attract institutional investors who are interested in gaining exposure to a different asset class. It will also provide services to businesses that need supply chain financing. The investors will be given access to a variety of investment options in this secure platform. The risk analytics division will be able to match the investment options to their risk profiles. With Olea, investors will be provided with a faster, transparent, and seamless service, which will allow them access to the working capital in the supply chain industry.
The partnership between Linklogis and Standard Chartered was formed in February 2019. They had entered a memorandum of understanding to collaborate on innovation services to assist the supply chain finance sector. Olea will most likely be established in Singapore. According to news sources, Amelia Ng will be made the chief executive of Olea, while the position of deputy CEO will be given to Letitia Chau. Letitia Chau is the chief risk officer and vice-chairperson at Linklogis.