GUUD and Intraco have entered into a strategic partnership to launch a trading token, TradeTok, on Singapore’s SDAX digital asset exchange multi-asset private markets investment platform.
This collaboration aims to revolutionize trade finance and supply chain asset management, close funding gaps and improve efficiencies in global supply chain operations, the companies said in a press release Thursday (Aug. 24).
GUUD is a global provider of trading technology platforms and supply chain finance solutions, while Intraco is a leading arranger of tokenized short-term corporate commercial paper and an experienced plastic resin trader, the press release states. By combining their expertise, both companies aim to provide market participants with a more efficient and transparent way to access trade finance assets, mitigate risk and improve liquidity.
The TradeTok will be issued to accredited investors in the SDAX and the proceeds will be used to fund trade finance and supply chain investments, the press release said. GUUD’s asset-backed financing (ABF) solution helps support financial stability and business growth by facilitating risk mitigation within the supply chain.
According to the press release, Intraco will facilitate the tokenization of GUUD’s supply chain funded assets and leverage the SDAX platform with its distribution capabilities. This collaboration will create new liquidity pools that will expand GUUD’s supply chain financing model.
Eldwin Wong, CEO of GUUD Finance, said in the press release that this partnership will drive the development of trade finance and supply chain finance. He said: “It offers market participants a more efficient and transparent way to access trade finance assets while mitigating risk and improving liquidity in the market.”
Mak Lye Mun, Chief Executive Officer of Intraco Limited added: “By leveraging the power of technology and Intraco’s extensive knowledge and network, we aim to create new opportunities for companies and investors in the global trading landscape.”
There is a direct correlation between the availability of trade finance and a small business’s ability to grow, Desmond Loh, head of supply chain finance at GUUD, told PYMNTS in an interview published in July 2021. Trade finance promotes healthy cash flow, and Die Loh said at the time that it gave smaller companies more flexibility in choosing their customers.
For more information, see: B2B, B2B Payments, Commercial Payments, Eldwin Wong, Global Supply Chain Industry, Global Supply Chain Operations, Global Trade Landscape, Guud, GUUD Finance, Intraco, Liquidity Pools, Mak Lye Mun, News, Partnership, PYMNTS News, SDAX, Supply Chain Wealth Management, Supply Chain -Assets, Supply Chain Financed Assets, Supply Chain Finance Solutions, Tokenization, Trade Finance, Trade Finance Assets, Trade Tokens, TradeTok, What’s Hot, What’s Hot in B2B
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