Highlights:
- DBS Bank, a leading financial services group in Asia, has joined the LiquidX network
- The DBS and LiquidX partnership will focus on use of digital ecosystems
- LiquidX is rapidly expanding its presence in Singapore to support its Asian clients
Singapore, Aug. 06, 2019 (GLOBE NEWSWIRE) -- via NEWMEDIAWIRE -- LiquidX, the global network for illiquid assets, is excited to welcome DBS Bank to its network. DBS, a leading financial services group in Asia, successfully completed a primary receivables transaction with one of its key relationship clients via the LiquidX network in the second quarter of 2019.
“Our partnership with DBS marks another step towards building digital ecosystems that enable businesses to deliver efficient and easily scalable solutions to its customers across borders. DBS’ strong digital agenda also 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,” noted Jim Toffey, CEO of LiquidX.
“We are excited to be working with LiquidX to bring new working capital solutions for our clients,” commented Sriram Muthukrishnan, Managing Director and Group Head of Trade Product Management at Global Transaction Services, DBS Bank. “We believe DBS’ and LiquidX’s innovative technology platform, streamlined legal framework, client network and digitisation strategy will be complementary and deliver superior and scalable solutions across multiple customer segments. We welcome such partnerships where focus is placed on improving the overall customer journey.”
LiquidX also announced the expansion of its Singapore office, the headquarters of LiquidX’s Asian business. The company has hired a team of seven to round out its origination, legal and product teams. “Asia is a key growth market for LiquidX and we see a tremendous amount of opportunity across our entire product set. Singapore has a vast and vibrant Fintech community, which coupled with governmental support for trade and commerce makes it a strong hub for our business,” commented Rohit Goyal, head of Asia at LiquidX. He continued, “We have hired an exceptional team who bring a wealth of experience across asset management, commodities, trade finance and working capital. Our presence in Singapore puts us in position to benefit from the growth of digital trade networks in Asia.”
About LiquidX
LiquidX is the global network for illiquid assets, providing an efficient and flexible platform for participants to transact across the trade finance, working capital and trade credit insurance asset classes. Its leading technology platform and streamlined legal framework enables a diverse network of global participants, including major corporations, banks, institutional investors, and insurance providers, to transact more effectively. LiquidX has executed over $20 billion of trade volume and processed $80 billion in post trade settlements since 2016. For more information about LiquidX, please visit www.liquidx.com.