Anglo-Gulf Trade Bank Leads The Piloting Of The Newly-launched APIX Platform At The Singapore Fintech Festival
The ASEAN Financial Innovation Network (AFIN) and the Headquaters of AGTB, Abu Dhabi Global Market (ADGM), have showcased the connectivity between the two platforms. Pilot test includes Anglo-Gulf Trade Bank which extends trade financing to a Singapore-based seller of goods for the purposes of simulating a UAE-Singapore trade transaction. AGTB uses the ADGM Digital Sandbox to connect via APIs to the APIX platform to source FinTech start-ups to perform due diligence on the Singapore-based seller, as well as to make the subsequent loan payment.
The initiative will bring together financial institutions and fintech companies between the MENA region and the Asia-Pacific.