Standard Chartered SC Ventures-backed SWIAT partners with Olea to use blockchain to simplify global trade finance

On September 26th, Frankfurt-based blockchain software developer SWIAT recently announced a partnership with Singapore-based digital financial marekt infrastructure Olea. By leveraging blockchain, SWIAT and Olea seek to address the challenges of traditional trade finance, such as slow processing times, complex documentation, high costs, fraud and error risks, and create a more efficient and transparent ecosystem for global businesses.
Both companies are supported by Standard Chartered's innovation arm, SC Ventures, and this collaboration will also enable them to expand their presence in Singapore and Germany.