Standard Chartered, a British multinational banking giant, has announced it has established a joint venture called Oleam a blockchain-based trading platform, in a partnership with Linklogis, a Chinese supply chain finance provider. The blockchain-oriented platform will help institutional investors to find opportunities in an alternative asset class.
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"Olea's rigorous risk analytics and secure platform offers investors access to investment options for returns that align with their risk profiles," the bank said in a press release.
With the platform, investors will reportedly get access to a "full range of trade finance assets globally" with primary focus on Asia. Standard Chartered reveals the new service as its innovation and ventures branch SC Ventures earlier announced plans to open an institutional cryptocurrency exchange platform for UK and European clients.
The arm teamed up with BC Group, the parent company of crypto exchange OSL, which is licensed in Hong Kong, and the cryptocurrency-focused platform is scheduled to be launched in Q4, 2021.
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