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SC Ventures joins $30m series A for SG trade finance firm Olea
Olea, a Singapore-based trade finance platform, has raised US$30 million in a series A round led by BBVA, with participation from XDC Network, theDOCK, and SC Ventures.
The company said it plans to use the funds to expand its adoption of AI and Web3 technologies, and grow its presence in high-growth markets.
Olea holds a Capital Market Services license from the Monetary Authority of Singapore and has supported over US$3 billion in financing for global suppliers and buyers since its launch in 2022.
BBVA, a Spanish bank, will work with Olea to develop digital supply chain and risk analytics solutions as part of the investment.
🔗 Source: Olea
🧠 Food for thought
Implications, context, and why it matters.
The evidence for Olea’s AI and Web3 claims remains unclear
- Olea says it will use funds for AI and Web3 expansion but gives no details on deployments or results. The company has tokenized receivables (turning invoices into blockchain-based tokens) with SWIAT, a digital-asset infrastructure provider 1. It also integrated USD Coin (USDC), a dollar-pegged stablecoin issued by Circle 2. These steps do not prove live AI use or wide Web3 uptake.
- XDC Network is a blockchain platform that says it supports trade finance tokenization 3. It needs on-chain facts such as transaction volumes and paying clients or regulatory approvals. That would confirm whether tokenized trade finance has real traction or remains mostly experimental. Without this data readers cannot separate marketing from operations.
Digital trade vendors should prioritize countries that have adopted MLETR
- Countries are putting the Model Law on Electronic Transferable Records (MLETR) into practice. France became the first EU member to fully transpose MLETR in 2025, and Japan plans implementation by fiscal year 2026 4. The Netherlands introduced a draft bill that would make it the fourth European country to recognize electronic bills of lading (digital documents of title used in shipping) 5.
- Companies such as XDC Network and vendors serving electronic bill of lading adoption should concentrate sales and partnerships in these jurisdictions where laws already back digital trade documents. With 61.5% of global exports now coming from MLETR-aligned economies 4, teams can move faster by targeting markets with legal certainty rather than waiting for slower reforms elsewhere.
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