Bluecell Intelligence and STACS join hands to build Blockchain Infrastructure and support Green Loan Projects
March 31, 2021
STACS is a Singapore FinTech development company with a vision to provide Bluecell Transformative Technology for the Financial Industry.
Bluecell Intelligence PTE Ltd. and HASHSTACS PTE LTD. (STACS), the two Singapore based Fintech firms have decided to get into a collaboration w.e.f 11th Mar 2021. They will work together to provide Blockchain based solutions and Greenloan projects with enhanced capabilities.
Bluecell Intelligence recently launched a Digital Lending Platform for SME loans. It strives to provide better solutions and efficient systems through the online platform where loan dealings can be done in a faster and more advanced way. SMEs can reach multiple lenders with just one single application with various Financing options. Bluecell is onboarding lenders and partners at a fast pace to provide value and more options to its customers.
STACS is leading the way forward by digitalizing assets, processes, and documents using its Blockchain technology. STACS is an Award Winner of the Monetary Authority of Singapore (MAS) Global FinTech Innovation Challenge Awards 2020, a technology partner of Project Ubin led by MAS. They provide production-ready enterprise blockchains and end-to-end solutions for implementation. They work along with financial institutions to discover new opportunities through its technology. With recent trends of blockchain adoption in the industry, STACS serves as a complete solutions partner and an innovative fintech development company to help financial institutions to embrace advanced technology and seek new opportunities.
With this collaboration STACS and Bluecell will build up its platform on blockchain infrastructure. STACS is a fintech award winner for MAS global fintech festival. They are appointed to be the blockchain infrastructure platform builder under project greenprint to facilitate Green Loans. STACS will provide GreenSTACS as supporting infrastructure for loans. This will be aligned with MAS direction, Project Greenprints, Green loan, etc. Using blockchain will track the green impact of the loan towards the borrower. Bluecell is an aggregator of lenders who can offer green loans. Borrowers with “green” elements in their business can come through BC platform to apply for loans from the “green” supportive lenders at better than usual terms. Bluecell will use this technology for processes like Smart contract, digital signing, verification of original financial documents, etc.
The Green Fintech initiative by Singapore focuses on challenges faced by financial institutions with respect to sustainability and climate risks. Greenprint is a technology platform aimed at promoting a green financial ecosystem. SMEs and FinTech firms working on green and sustainable projects often face difficulty accessing capital in an efficient manner. Project Greenprint provides a platform for these firms to connect with financial institutions and investors to access a wider pool of capital and green solutions.
With emphasis by the Singapore govt. on Green loans many small businesses are focusing on sustainable projects for future growth.
With more businesses shifting their regular transactions digitally and using services offered by Online platforms it is deemed to enhance the efficiency of the financial sector due to the newer technologies. Fintech platform helps to automate the process and make the delivery of services faster.