STACS Teams up With Bluecell for Blockchain-Powered Green Loansby Fintech News Singapore March 31, 2021
Bluecell and Hashstacs (STACS) announced a new collaboration to offer green and sustainability-linked loans though GreenSTACS, which runs on top of latter’s patent-pending blockchain technology.
Bluecell will connect its live end-to-end loans matching engine integrated with MyInfo, to STACS’ sustainability-enabling technology infrastructure GreenSTACS.
STACS’ live DLT platforms support the trade lifecycle management of securities, and ESG financing dimensions encompassing green and sustainability-linked bonds and loans. Recently STACS had announced collaborations with leading institutions like Deutsche Bank, BNP Paribas, Eastspring Investments, and Bursa Malaysia.
A key focus in this collaboration is the effective management of green and sustainability-linked loans, which will be spearheaded by STACS.
The platform is aligned with Monetary Authority of Singapore (MAS)’s key focus on green fintech.
Ray Ferguson, Chairman at STACS said,
“With the world’s focus turning to ESG, financial institutions have a key role to play in the sustainability push of the next decade, and this is where STACS can come in to empower institutions to effectively and easily achieve ESG goals and do their part to create an inclusive and sustainable ecosystem, via our DLT technology.”
Vince Wang, CEO of Bluecell, said:
“Apart from large corporations holding opportunities in the participation of issuing and securing green and sustainability-linked bonds and loans respectively, Bluecell hopes to level the playing field for green micro and SMEs that hire 90 percent of our workforce﹣to obtain adequate financing from sustainability-linked lenders, while enjoying equal treatment and exposure to various opportunities, to that of the big players.”