Singapore’s fintech companies Green Link Digital Bank (GLDB) and 129Knots have teamed up to start a new global finance program. The goal is to make it easier for businesses in the marine fuel industry to access money when they need it.
In the first stage of this strategic initiative, using 129Knots Origination-to-Distribution (OTD) platform, eligible borrowers across the global marine fuel sector will be able to access working capital financing lines, the duo said in a statement on Friday.
This partnership between Green Link Digital Bank (GLDB) and 129Knots is the first of its kind in the marine industry. It introduces a special finance system designed to meet the real-world needs of companies working with marine fuel.
Through 129Knots’ OTD platform, businesses in the marine fuel industry can now get easier access to money. They can use services like receivables financing, credit options, and funding tools that are built directly into their normal transaction process.
Although the focus now is on marine fuels, the platform is designed to grow. In the future, it will also support things like alternative fuel buying, green energy financing, and large long-term projects like ship upgrades or cleaner fuel systems.
GLDB and 129Knots also plan to add new financial tools, such as stablecoin payments and smart payment systems, to make money flow more smoothly and securely.
One of the main reasons for this effort is that marine fuel is one of the biggest costs in the shipping industry, even more than the cost of buying a ship over time. But this major expense has often been ignored by regular banks and finance companies.
Because of this, the marine industry has faced a big funding gap worth billions of dollars, which this partnership is now working to fix.
“The marine fuel industry has long relied on fragmented financing and informal credit, limiting transparency and scale,
“Together with GLDB, we are enabling capital to move seamlessly across this value chain. This partnership solves the perennial problem of credit accessibility in the marine fuel industry,” said Vikash Dhanuka, Founder and Group CEO at 129Knots.
It also marks the first step toward filling a multibillion-dollar gap by building a new asset class that brings structure and scalable opportunity to every participant, he added.
Melvin Teo, Chief Executive Officer at Green Link Digital Bank, said that at GLDB, they are committed to transforming how businesses manage their cash flow and supply chain financing.
“Through Embedded Financing partnership with 129Knots, we are breaking down traditional barriers and embedding financial solutions right where businesses operate,” he added.
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