SINGAPORE, Sept 15, 2020 - (ACN Newswire) - Adera Global Pte.
Ltd. ("ADERA" or the "Company"), an innovative financial services
technology group headquartered in Singapore with a track record of
more than 35 years, is pleased to announce that it has entered into
two Memorandum of Understandings ("MOU") and a letter of intent to
broaden and deepen its business presence in Chongqing, China.
Highlights:
- Supported by major Chinese institutions in the banking and trade
industries, the supply chain financing platform will utilise
ADERA's blockchain solutions and it will be jointly developed
together with two established Chinese partners, Chongqing
JiangBeiZui CBD investment Group and CCIF Pte Ltd
- Greater economic collaboration will facilitate more trade between
Singapore and Chongqing and the supply chain financing platform
will enable enterprises in Singapore and Chongqing to digitalise
and standardise their trade processes and invoices
- With enhanced accountability and transparency via the supply
chain financing platform, it fosters greater trust and confidence
between financing institutions and transacting parties, leading to
lower risks to business transactions and faster access to
financing
- The fintech and data centre established by ADERA will be located
in Bishan, Chongqing and it will focus on the development of
fintech solutions, artificial intelligence and secured data
capabilities, among other new technology innovations
- ADERA will also be participating in SMART CHINA EXPO 2020, where
the Company will showcase its latest fintech and digitalisation
innovations in this Virtual Expo
The MOUs and letter of intent are part of the China-Singapore
(Chongqing) Demonstration Project on Strategic Connectivity and it
is the third intergovernmental cooperation project between China
and Singapore which mainly covers four key areas of cooperation:
financial services, aviation industry, transportation logistics and
information, and communication.
Previously, such intergovernmental cooperation projects have
effectively facilitated the origination and completion of several
China-Singapore cooperation projects. In 2018, 16 cross-border
financing projects under the China-Singapore Demonstration
Initiative on Strategic Connectivity were followed through.
Strategic Collaborations with Established Chinese Private
Enterprises and Government Agencies in Chongqing
Chongqing, in southwest China, is one of four municipalities
directly controlled by the central government - the other three are
Beijing, Shanghai, and Tianjin. Chongqing has posted double-digit
economic growth for more than a decade and in 2019, Chongqing
posted a GDP growth of 6.3% Y-o-Y to RMB 2,361 billion in 2019.
ADERA's first MOU and letter of intent relates to the development
of the first supply chain financing platform for cross border trade
activities between Singapore and Chongqing.
Utilising ADERA's blockchain solutions and technology capabilities,
the supply chain financing platform will be jointly developed
together with two established Chinese partners, Chongqing
JiangBeiZui CBD investment Group, a state-owned enterprise, and
CCIF Pte Ltd, a state-related business agency.
In addition, the supply chain financing platform has obtained the
support from major Chinese institutions in the banking and trade
industries that comprise of Bank of Chongqing, YuMaoTong Foreign
Trade Service Platform and Chongqing Tianlian Citrus Network
Technology Co. Ltd.
To facilitate a greater volume trade activities between Singapore
and Chongqing and improve efficiency between business enterprises
in both countries, the blockchain-based supply chain financing
platform will integrate multiple e-invoicing standards in China to
conform to the PEPPOL e-invoicing standard that is recognised
internationally.
With enhanced accountability and transparency via the supply chain
financing platform, it can foster greater trust and confidence
between financing institutions and transacting parties, leading to
lower risks to business transactions and faster access to
financing.
The pilot supply chain financing platform is expected to be
introduced by the end of 2020 and there is potential to replicate
the platform across other key markets in China and connecting more
business enterprises and transactions between China and
Singapore.
The second MOU is signed between ADERA and Chongqing Bishan
District Government to establish a fintech and data centre,
spearheaded by ADERA, which will be located in Bishan, Chongqing.
The fintech and data centre will focus on the development of
fintech solutions, artificial intelligence, and secured data
capabilities, amongst other new technology innovations.
Commenting on these milestones, Mr. Lennon Tan, Chairman of ADERA,
said: "The MOUs and letter of intent reflect our strong commitment
to serve the business communities in both Chongqing and Singapore
with our technology innovations and deep industry experience.
Working together with our established MOU partners in Chongqing, we
look forward to develop an enhanced ecosystem of trust that
transcends geographical barriers and creates new value propositions
that will benefit stakeholders.
Paving the way for the mainstream adoption for digitised supply
chain documentation and data integration, we believe that our
blockchain-based supply chain financing platform will lead to a
higher volume of cross border trades and faster access to supply
chain financing while lowering risks at the same time among
transacting parties."
Mr. Lennon Tan, added, "Sharing a common vision of developing and
commercialising new technology innovations with the district
government in Bishan Chongqing, our fintech and data centre in
Chongqing aims to be a gateway to enable more advanced technology
applications to create a more inclusive community."
Showcasing ADERA's Latest Fintech and Digitalisation Innovations in
SMART CHINA EXPO 2020
In addition, ADERA is participating in the SMART CHINA EXPO 2020,
which is an annual gathering for international enterprises,
industry leaders, scholars and experts, and government officials to
share and explore the latest developments in the fields of smart
technology, smart industry, smart manufacturing, and smart
application.
Due to the COVID-19 pandemic, SMART CHINA EXPO 2020 has been
transformed into a virtual platform and ADERA will be showcasing
its latest fintech and digitalisation innovations in the following
areas:
- Blockchain driven cross-border e-invoicing & supply chain
platform
- Digital identity solutions enabling enrolment to verification
- Fintech transformation for banking institutions with workflow
automation & intelligent kiosk
- Biometric contactless attendance and temperature-taking system
with contact tracing
capabilities
About Adera Global Pte Ltd ("ADERA")
Serving global banks, financial institutions, telecommunications
and government agencies around the world, ADERA is a financial
services technology group headquartered in Singapore providing a
platform of innovative fintech, digitalisation and data security
solutions.
With an established track record of more than 35 years, ADERA aims
to enable our customers to digitalise and enhance their business
models to broaden access to new markets, improve end- users
experience and develop greater business efficiency.
For more information, please visit ADERA website:
https://aderaglobal.com
Issued on behalf of Adera Global Pte. Ltd. by 8PR Asia Pte Ltd.
Media Contact:
Mr. Alex TAN
Mobile: +65 9451 5252
Email: alex.tan@8prasia.com
Source: ADERA
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