MonetaGO and GUUD Alliance All Set to Strengthen Asia's Trade Finance Sector
MonetaGO and GUUD have recently formed an alliance to make prominent developments in the trade and finance sector in Asia. MonetaGo is an organization that is dedicated to the prevention of fraud in the financial service sector. On the other hand, GUUD is a Singapore-based entity having an ecosystem of trade finance enriched with genuine stakeholders.
The alliance of both entities, MonetaGO and GUUD can minimize fraud in the Asian trade finance sector and expand the industry at the same time. The Japan-based SMBC Bank has come up with its support for the alliance. MonetaGo will minimize the frauds related to trades that happen through the GUUD platform. The Secure Financing Platform, belonging to MonetaGO, works on the blockchain structure and it has been already used for the transaction of several billion dollars.
GUUD works on several sections of the trade industry, such as shipping, financing, and compliance. It takes the digital approach by executing its functions through several digital platforms. It provides exposure to both government and private businesses as they can get proper access to several financing options and global markets. It also allows these business entities to know about modern trade standards and meet them accordingly. GUUD already has trade platforms present in countries, like Singapore, Cambodia, Indonesia, Kenya, and Malaysia.
Tat Yeen Yap holds the designation of Head of the Product APAC and is the main head to work on the forthcoming projects. MonetaGO has specially hired Tat Yeen Yap considering his experience in most top banks of Singapore and also a designated officer of Societe Generate of Singapore in the trade finance section. He has more than 30 years of experience and the company has high expectations from him for ensuring the prominent growth of the company in the forthcoming years.
Putting light on this matter, Tat Yeen Yap has said a few words in favor of the company. According to him, MonetaGo has already started minimizing the fraud rates in the trade financing section. As per the track records, MonetaGo is the best as no other company is still able to reach the numbers of MonetaGo. He also mentioned that many traders were expecting a platform that can provide a genuine digital trade environment with proper protection against fraud.
The CEO of GUUD, Desmond Tay, is also looking up to work with MonetaGo and enhance the trade finance environment for the future. He noted that this alliance can cut the chances of trade-related scandals from Asia.