Thursday, 26 September 2024
Olea Global Markets secures CMS licence from MAS
Olea Global Markets, a wholly-owned subsidiary of Olea Global Pte Ltd (Olea), has successfully obtained a Capital Markets Services (CMS) licence from the Monetary Authority of Singapore (MAS) for dealing in capital markets products.
Olea has also passed the $1 billion milestone for supply chain and trade assets processed on the Olea platform.
The CMS licence will be used to distribute notes and loans backed by trade receivables, broadening the range of commercial relationships that can be pursued with institutional investors to open doors to new sources of liquidity.
Amelia Ng, CEO of Olea, said: "As Olea continues to empower sustainable trade across Asia, obtaining the CMS licence underscores our commitment to building a bank-like compliance and professional standards.”
“Achieving our $1 billion throughput milestone indicates the confidence funders have in Olea’s asset class and demonstrates the significant demand for our innovative trade finance solutions to companies in Asia,” Ng said.
Trade finance is crucial for economic growth among Asian exporters in the world's largest trading region. In 2023, the global trade finance gap reached $2.5 trillion, impacting numerous businesses. Olea's digital infrastructure platform addresses this gap by directing global liquidity to supply chain and trade assets, promoting economic development and reinforcing its strategic importance in the market.
Re-disseminated by The Asian Banker
