LiquidX partners with Sinagapore-based DBS Bank to boost trade finance

Tuesday 6 August 2019 11:31 CET | News

US-based network for illiquid assets LiquidX has announced welcoming Singapore-based DBS Bank to its network to work on increasing digital transformation.

DBS Bank successfully completed a primary receivables transaction with one of its key relationship clients via the LiquidX network in the second quarter of 2019. LiquidX representatives have stated that DBS strong digital agenda makes the bank an ideal partner as they share a common vision that digitisation will play a key role in transforming the transaction landscape for trade finance and other adjacent working capital asset classes.

LiquidX has also expanded its Singapore office, headquarters of Asian business, and hired a team of seven to round out its origination, legal and product teams. According to the company, Asia is a key growth market for LiquidX and Singapore has a fintech community, which coupled with governmental support for trade and commerce makes it a strong hub for their business, LiquidX officials commented.

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Keywords: LiquidX, DBS Bank, partnership, trade finance, illiquid assets, Singapore, Asia, APAC, digital transformation, working capital asset class, fintech, financial technology
Countries: World

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