Singapore’s First Wholesale Digital Bank GLDB Goes Liveby Fintech News Singapore June 3, 2022
The Green Link Digital Bank (GLDB), one of the winners of Singapore’s digital banking licenses, has officially commenced its operations.
The consortium behind GLDB comprising Greenland Financial Holdings and Linklogis Hong Kong was awarded one of the two digital wholesale bank licenses by the Monetary Authority of Singapore (MAS) in December 2020.
GLDB said that it seeks to leverage its experience in supply chain financing to provide accessible commercial banking services, as well as supply chain offerings for underserved micro, small and medium-sized enterprises (MSMEs).
With this, GLDB seeks to expand their service coverage and create more supply chain financing products.
Geng Jing, Chairman of GLDB said,
“The commencement of Green Link Digital Bank’s operations in Singapore symbolises a major milestone. It drives to strengthen the core pillars in digitalisation, technological empowerment and green finance.
We aspire to be one of the key contributors towards digital economy advancements in Singapore and hope to play a significant role in cultivating an open digital finance ecosystem in Singapore.”
Goh Soon Hong, Executive Director and Chief Executive Officer of GLDB said,
“We are excited to begin working with our customers in Singapore. We look forward to becoming their most trusted partner by growing with them, serving them with our digital solutions, connecting them with the right partners, and enabling them to embrace greater supply chain sustainability.
We look forward to creating strong, long-lasting relationships with business and work with other supply chain financing platforms in Singapore.”