SGX-Backed Trading Platform Partners With China’s ZALL
Singapore – The global trading platform COMMODITIES Intelligence Centre or CIC confirmed on December 16 Wednesday that they will work with a China-based trading platform to launch an initiative project under the Digital Silk Road leveraging ZALL’s B2B trading ecosystem.
According to the executives, this project will improve the digital connectivity across all stages of the supply chain, from sourcing to the last-mile delivery and fulfilment across borders. CIC’s Chief Executive Officer Peter Yu stated that CIC partnered with ZALL’s latest global digital trading platform to provide new opportunities with a combined and improved global B2B trading ecosystem to all Singaporean businesses.
Also, the trading platform features better accessibility to the end-to-end supply chain networks and resources in Asia. The upcoming project will also help more business owners reap the global digital trade economy benefits with CIC’s enhanced digital connectivity.
The global digital trading platform Zallgo was officially launched during the 2020 Global Digital Trade Conference held in Wuhan last November. According to the sources, over 300 merchants signed 255 agreements regarding ZALL’s digital trading platform, amounting to over US$56.3 billion worth of cooperation agreements.
Currently, ZALL Smart Commerce Group has HK$9.2 billion market capitalization, and some institutional investors have noticed some slight changes in the stocks. However, the big shareholders in the China-based company are still excited about the joint venture with Singapore Exchange (SGX) and Global eTrade Services (GeTS).
According to the executives, Singapore’s first global physical commodities B2B trading platform operates using blockchain technologies. Notably, the trading platform will surely see more surge in online transactions before 2020 ends. Currently, it already has over 4,000 customers searching for reliable trading opportunities every day.
This initiative is under the Digital Silk Road. Therefore, users can guarantee that the platform will promote the digital service sector and some cross-border e-commerce exchanges soon.